LOS ANGELES (MarketWatch) -- Eastman Kodak Co. EK announced early Thursday that it and its U.S. subsidiaries filed for Chapter 11 bankruptcy. The firm said the move "is intended to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the company to focus on its most valuable business lines." It said it would still pay employee wages and benefits and continue customer programs.