Ailing Kodak files for bankruptcy
Iconic photo company hopes to reorganize on printer, ink business
The glory days when Eastman Kodak Co. ruled the world of film photography lasted for over a century. Then came a stunning reversal of fortune: cutthroat competition from Japanese firms in the 1980s and a seismic shift to the digital technology it pioneered but couldn’t capitalize on. Now comes a wistful worry that this icon of American business is edging toward extinction. Kodak filed for Chapter 11 bankruptcy protection yesterday, raising the specter that the 132-year-old trailblazer could become the most storied casualty of a digital age.