Eastman Kodak Files Chapter 11

Eastman Kodak Co. has filed for Chapter 11 bankruptcy protection, following a long descent for the 130-year-old film pioneer, Reuters reported Thursday. The company, which plans to continue normal operations during the bankruptcy, said it obtained a $950 million, 18-month credit facility from Citigroup to keep it going, Reuters wrote. At end September, the group had total assets of $5.1 billion and liabilities of $6.75 billion.

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