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Kodak Files for Bankruptcy Protection

Kodak’s long battle to remake itself for the digital age ended in failure on Thursday as the company that was instrumental in turning photography into a popular pastime filed for bankruptcy.

The 131-year-old company said that it had filed for protection under Chapter 11 of the US bankruptcy code, along with its US subsidiaries, but that units elsewhere were not affected by the action and would continue to meet their obligations to suppliers.

The bankruptcy filing does not come unexpectedly as reported by BIIA in early January.

Source:  Financial Times

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