Kodak files for Chapter 11 Bankruptcy Protection

The Big Freeze: Kodak faces uncertain times. Photo from Vator.tvBy Gadjo Cardenas Sevilla

It is a sad day for many who grew up around Kodak and its film, CD and digital products.

Reports that the company has filed for Chapter 11 Bankruptcy Protection. This is a sad, yet not altogether unexpected move. The rising tide of competition in digital cameras, which Kodak also pioneered, plus its lacklustre performance in newer industries like printers, digital photo frames and its inability to continue leveraging the sale of its patent portfolio have eventually done the company in.

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