Thursday, January 19, 2012
Eastman Kodak filed for long-expected Chapter 11 bankruptcy.
The long-anticipated announcement came after weeks of early eulogies about the faded glory of the former trailblazer, once an American mainstay with products such Kodachrome photographic film and Instamatic cameras.
But printed photos seem well on their way to becoming a hipster curiosity as digital technologies -- which originated at Kodak decades ago -- now dominate on smartphones and, to a shrinking degree, cameras. The company, which was also exposed to heavy foreign competition and dwindling customers, has watched its liquidity situation worsen for years.
Read more at The Los Angeles Times.