The streamrolling trend from analogue to digital photography has finally forced Eastman Kodak to file for bankruptcy protection. They have only turned a profit one year out of the last seven, and are now borrowing cash and scrambling to sell digital imaging patents to keep afloat.
Eastman Kodak was founded in 1880 – the camera at left was designed by George Eastman, and manufactured and sold by Kodak in 1888. In addition to Kodak’s groundbreaking innovations in camera and film design, the George Eastman House in Rochester, NY, houses an immense photography archive and museum, and offers a Master’s program in photographic preservation.
Kodak does not plan to go down without a fight – it was announced today that they have hired a new restructuring officer in an attempt to turn things around.
