Kodak Files For Bankruptcy

Kodak Files For Bankruptcy

Eastman Kodak, the iconic film and camera company, filed for bankruptcy today in New York. The filing had been rumored for months, and for years Kodak has struggled to reinvent itself in the digital era.

The company had taken a beating in the stock market in recent weeks after it reported massive losses in the hundreds of millions of dollars for the fourth fiscal quarter. This week, it sued Apple, HTC and Samsung for patent infringements in an effort to recover lost revenue.

Kodak says it hopes to emerge from bankruptcy in 2013 and will continue doing business in the meantime.

[via Business Insider]

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