Kodak Declares Bankruptcy
Kodak tried to become a digital camera seller, it also got a Citigroup credit of 950 million dollars for 18 months to stay on market.
“The board and the entire management team unanimously believe that this is a necessary step and what we have to do for the future of Kodak,” the president and chief executive officer, Antonio M.Perez, said in a statement.
Kodak was once on top of the photographic industry but it failed to adapt to the modern technologies, the ironic fact is that the company invented the digital camera.
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