A company that once sold 90 per cent of the film used in the US .A company, whose little yellow film boxes could once be found all over the world. But despite the closure of 13 factories, 130 processing labs and 47,000 job losses, the business had little choice but to file for chapter 11 bankruptcy protections.
Kodak was the first company to create the digital camera, but back then most of its profits came from selling chemicals and they were reluctant to invest.
Digital market was here to stay, it had overtaken film, and all Kodak’s competitors had far advanced digital cameras.
