KODAK IN BANKRUPTCY PROTECTION FILING
19 Jan, 2012
Kodak has filed for bankruptcy protection after having struggled to compete with other companies who were able to adapt faster to the digital age.
The company, whose full name is Eastman Kodak, was responsible for the invention of the hand-held camera and has a 132-year-old history.
Announcing the move to seek bankruptcy protection, Antonio M. Perez, Kodak’s chairman and chief executive, said: “The board of directors and the entire senior management team unanimously believe that this is a necessary step and the right thing to do for the future of Kodak.”
However, in a statement the company said that its business will continue as usual for customers.