Rochester, N.Y. – One year ago today, Eastman Kodak filed for bankruptcy.
The photography giant was deep in the red and had struggled for years to make the transition to digital imaging.
Over the last year, Kodak has cut thousands of jobs, sold its digital imaging patents and online photo gallery, gotten out of the camera business, eliminated retiree benefits and removed its name from the Hollywood home of the Academy Awards.
Kodak is expected to emerge from bankruptcy this year as a smaller company focused on commercial printing.
“When the bankruptcy is finished, Kodak will only sell to industry,” said George Conboy of Brighton Securities. “You won’t be buying a Kodak product with the Kodak name made here in Rochester.”
The next big steps in Kodak’s bankruptcy are the sale of its document and personalized imaging businesses.