Kodak Files For Chapter 11 Protection

In a moved that had been expected, Kodak filed for Chapter 11 bankruptcy protection on Thursday. It raises the specter that the 132-year-old trailblazer could become the most storied casualty of a digital age that has whipped up a maelstrom of economic, social and technological change.

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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.

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