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Kodak Files for Bankruptcy Protection

Rumors that Kodak is facing bankruptcy have been circulating for the last 3-months. Today it was announced that Kodak has filed for bankruptcy protection. Thinking in terms of the future, their goal now is to sort out their finances and make a comeback. Read on for details...

Image via vintageviews

With debtors looming, Kodak has today filed for bankruptcy protection. The announcement came in a Press Release on their website. With profits on the decline, owing to the surplus of competition in this digital age, the Rochester-based firm had ‘their future’ in mind when they voluntarily filed for chapter 11 business reorganization on January 19.

As the company is international and as the filing for bankruptcy protection only affects companies in the US, its non-US subsidiaries continue to operate as normal.

The last decade has seen the shutting down of more than 10 of Kodak’s manufacturing plants. The firm is now set on reorganizing their finances to come out of chapter 11 on-top, as many under protection often do.

Kodak – A History in Pictures

No matter the outcome, the company’s extraordinary legacy will remain intact. As such, we are paying homage to Kodak, the inventors of rolled film, consumer cameras, and the digital camera.

In chronological order: Eastman’s State Street offices (1981), Eastman and Edison (c.1981), The Kodak Camera (1888), The Brownie Camera (1900), The Kodak Developing Machine (1902), Kodak Retina Reflex Camera (1958), Kodak Carousel Projector (1961), World’s first digital camera (1975), Kodak Fun Saver Panoramic 35mm Camera (1989), Kodak Zi8 Pocket Video Camera (2009).

Information used in the writing of this article came from an article in the BBC

What are your thoughts on the bankruptcy? Have you got a favorite Kodak film or camera? Please post your thoughts in the comments…

written by soundfoodaround

10 comments

  1. emperornorton

    emperornorton

    Kodak stopped making my favorite Kodak film which was Kodachrome. This news saddens me.

    almost 3 years ago · report as spam
  2. cwyeung

    cwyeung

    @lomography will be one of the potential buyers of Kodak's analogue business, right?

    almost 3 years ago · report as spam
  3. betortita

    So Kodak will come back, but I wonder if the analogue part of Kodak will die, as the big bussines are now on digital photography.

    My biggest fear: kodak analogue film and developing dissapear.
    I think Fuji still will fill that market (for a while) but what would be of analogue photography without Kodak, I mean is KODAK!!!!!!!!!!

    almost 3 years ago · report as spam
  4. cutebun

    cutebun

    Nooooooo

    almost 3 years ago · report as spam
  5. mainjune

    No way!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! my favorite is Kodak Gold 200 specailly...

    almost 3 years ago · report as spam
  6. bear1973

    bear1973

    Japan Camera Hunter has a nice article on how Kodak film is actually the profitable part of the Kodak company and therefore quite safe. Read it here http://www.japancame(…)s-not-dead/

    almost 3 years ago · report as spam
  7. summerwave

    summerwave

    Kodak gold 100.... My lovely film...... I jz get it 5 rolls today..
    almost 3 years ago · report as spam
  8. riversiren

    riversiren

    I have always been around Kodak film growing up (mostly due to my mom's side of the family), and hearing about this really saddens me.

    almost 3 years ago · report as spam
  9. cwyeung

    cwyeung

    Kodak GOLD 100 & Elite Chrome EB100, basic but favorite need. It's bad that Gold 100 disappeared in Asia and Elite Chrome 100 EB3 discontinued........

    over 2 years ago · report as spam
  10. neanderthalis

    neanderthalis

    I am crossing my fingers that Kodak does not stop film production. I am a big fan.

    over 2 years ago · report as spam

Read this article in another language

This is the original article written in: English. It is also available in: 中文(繁體版) & 中文(简体版).