Snap! Kodak files for bankruptcy

Photography and camera giant Kodak has finally filed for bankruptcy protection in the United States, following months of speculation.

"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," chairman and chief executive Antonio M Perez said in a statement.

Kodak announced the company, and its subsidiaries, had filed for Chapter reorganisation but that international subsidiaries and entities were not impacted.

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