Rochester, New York – After 132 years Kodak has today filed for bankruptcy. From its original Brownie cameras and invention of Kodachrome to its only recently declassified high altitude and space based imaging systems designed for the US Department of Defense, Kodak had always been at the front of the photoghraphic industry. Whilst it was the first to invent the digital camera way back in 1976, Kodak never really capitalised when digital formally hit the streets in 1999 and has certainly suffered in the last few years. Kodak Press Release.