Photography pioneer Kodak on Thursday said it has filed for bankruptcy protection before a United States court, DPA reported.
The company said the move, which would include the sale of non-essential assets, which could include patents, is intended to bolster liquidity in the US and abroad.
It was reported Wednesday that Kodak, which dominated film sales for much of the 20th century, has been in talks with banks to file for bankruptcy.
The former blue chip company, which was founded in 1892, has been struggling since the late 1990s, when the spread of digital cameras started to decimate its film business.