Eastman Kodak Company, which invented the hand-held camera and helped bring the world the first pictures from the Moon, has filed for bankruptcy protection.
The 130-year-old photographic film pioneer which had tried to restructure to become a seller of consumer products like cameras, said it has also obtained a $950 million, 18-month credit facility from Citigroup to keep it going.
The chairman and chief executive Antonio M Perez said in a statement that the board of directors and the entire senior management team unanimously believe this is a necessary step and the right thing to do for the future of Kodak.
