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Kodak Files For Chapter 11 Bankruptcy

Hannah Madans |
January 19, 2012 | 9:06 p.m. PST

Executive Producer

courtesy Creative Commons
courtesy Creative Commons
The Eastman Kodak Co. filled for Chapter 11 bankruptcy protection Friday. This came after a “long slide,” according to The Daily Beast.

Eastman Kodak Co. is the photography company that introduced a $1 Brownie Camera over a century ago.

The company listed assets of $5.1 billion and a debt of $6.8 billion in Chapter 11 documents filed in the U.S. Bankruptcy Court in Manhattan, according to the Washington Post.

Kodak’s revenue has been cut in half since 2005. To try to save the company Kodak tried to enter the digital printer market, but found little success.

Kodak received a $950 million credit lifeline to remain afloat for 18 months while the company tries to sell 1,100 patents.


Reach associate news editor Hannah Madans here.


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