In order to permit business to continue, the Citigroup bank granted the company a credit line of US$ 950 million.

Eastman Kodak that was in the past successful with analog photography and miniature cameras but became a latecomer to digital photography, had recorded negative business results since 2008. The company's attempts to raise the necessary capital through the sale of patents proved unsuccessful.

According to press reports, the company's subsidiaries outside the U.S.A. are not affected by the insolvency.