Eastman Kodak, the pioneering camera and photography company has received approval from a US bankruptcy judge, Allan Gropper, to exit bankruptcy, it has just been reported by Reuters.
Approval was given today for the company to exit bankruptcy and return as a smaller digital imaging company.
The company, once famed for its catch phrase, “You press the button, we do the rest,” first became the Eastman Kodak Company of New York in 1892. It became a leading and dominant player in its field for over a century, but due to its slow reaction to technological change in a digital age in latter years, experienced a downturn with the advent of digital photography, finally filing for bankruptcy in January of last year.
The company should recommence trading in about a fortnight.
You can see Kodak’s history in pictures here:
Written by: Brucella Newman