Kodak Files For Chapter 11 Protection
RENEE MONTAGNE, HOST:
NPR's business news starts with Kodak filing for bankruptcy.
It's something that's been expected for a while. The company whose film captured memories for generations of Americans, filed for Chapter 11 protection this morning. In recent years, Kodak failed to keep up with the digital revolution. Ironically, Kodak invented the digital camera. Now this bankruptcy filing could give Kodak the time it needs to sell some of its valuable digital patents, that's considered key for the company to survive. Kodak will continue to pay wages and benefits to its employees, but it's not clear what the filing means for those who have retired. Transcript provided by NPR, Copyright NPR.