Kodak – Precious Moments No More
The once popular and leading brand in the world of film photography with a “red-yellow k logo” will soon become an all “black k logo”. Yup, everywhere in the news today, Eastman Kodak Co. filed Chapter 11 bankruptcy protection Wednesday after more than 100 years of supremacy.
Digital photography really killed film photography.
Kodak couldn’t compete with other companies and is now the casualty of digital era. Kodak’s precious moments are now gone. But with this move now, the company is still hoping for positive outcome and that Kodak will stay afloat.
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities.
See related story at Los Angeles Times.