It's Official - Kodak Has Filed For Chapter 11 Bankruptcy

A lot of big names have fallen over the past year. In 2011, Blockbuster went under and got sold, Borders went down and more followed in the wake. Kodak isn't out for the count just yet, but they have filed for Chapter 11 bankruptcy.

Kodak has already revealed a few ideas on how to turn the company around and they're ramping up their efforts. The company says that you'll see a completely restructured Kodak in 2013. "We look forward to working with our stakeholders to emerge a lean, world-class, digital imaging and materials science company," says CEO Antonio M. Perez.

Among the things that Kodak is going to be focusing on in the near future are digital capture patents that generate a hefty chunk of change for the company every year. They'll also be focusing on printing technologies, though whether that's for business or consumer use we'll have to wait and see.

Whatever happens, it seems that we can expect big things from Kodak this year as the company tries to turn things around.