Eastman Kodak has filed for Chapter 11 bankruptcy protection with a US court, as it seeks to boost its cash position and stay in business.

The company said in a statement that its business would keep going as normal for customers and it had already arranged a $950m credit facility from Citigroup.

Since becoming chief executive, Antonio Perez has moved Kodak away from its focus on cameras to home and commercial printers.

The bankruptcy move comes as the company has failed to find a buyer for its trove of 1100 digital imaging patents. Kodak said in November that it could run out of cash in a year if it didn't sell the patents.