Once the darling of the photography world, long-time film maker Kodak is close to filing for bankruptcy, according to the Wall Street Journal.
The company is currently shedding $US70 million a month as it tries to shift its business model from film to printers. The entire situation is quite sad when you realise how intertwined Kodak is to not just America’s past, but the collective photographic memories of everyone with a photo album. According to WSJ sources, unless the company finds buyers for its patents, Kodak could file for Chapter 11 as soon as this month.
Evolve or die folks, evolve or die. [WSJ]