Kodak files for Ch. 11 protection

ROCHESTER, N.Y. (WIVB) - Once an icon of American business, a film pioneer that helped build the city of Rochester and revolutionized the way we saw the world has now faded into bankruptcy.

Eastman Kodak has struggled for some time, drastically cutting its workforce and facilities in Rochester over the years.

Governor Andrew Cuomo noted those pink slips, over the years, have disrupted an entire culture.  The governor pointed out Lt. Governor Bob Duffy is a former mayor of Rochester.  Cuomo said the bankruptcy filing is not taken lightly.

Generations of current employees and retirees are now wondering what's next now that the company has filed for Chapter 11 bankruptcy protection.

The company says they will continue operating as normal and will continue to pay employees and retirees as normal. But once the court steps in, that could all change.

Referencing the bankruptcy filing, Governor Cuomo said, "we have a number of ideas we're working on to be as supportive as we can."  He never outlined what those plans entail. 

Jim Janson is the regional manager of Delaware Camera and has now witnessed the rise and fall of the brand. He says they failed to effectively enter into the digital age.

"I think film disappeared and that's ultimately what killed them," Janson opined.

Janson says Kodak film has become more of a niche.  Each roll of film is expensive and used primarily by students, Janson noted.  

D'youville College student Mark Rizzo was shopping at Delaware Camera.  As a student of photography, he was looking for Kodak film.  He said, "It was the first thing that came to mind."

Since Kodak is not closing, they say the company will continue to operate as usual.

Workers will continue to get paid and will still receive benefits, but under court supervision, Kodak notes, retirees could soon see changes in their benefits.

Janson said, "Anytime you see a part of America, more or less dying off, especially when it has to do with your own industry, it hurts a little bit inside."

Despite Janson's emotional connection to the brand, he says Kodak's demise won't mean much for fine art photographers.

"Kodak hasn't really been in our life for the last 10 years, so it won't have much affect on our business except symbolic," said Janson.

The workers at Delaware Camera are removing the iconic yellow and red Kodak sign. Other manufacturers have offered to purchase the space along busy Transit Road.

"It's a sad day for everybody in this business. But there's a lot of great things happening in the imaging business. We are alive and well and we will certainly overcome this," assured Janson.

Kodak plans to restructure their company in the future.  This could impact retirees and current employees.  Kodak outlines their plans for retirees, here.   Kodak outlines their plans for current employees, here.