Jan. 10, 2012 â¿¿ Kodak announces plans to realign and simplify its business to cut costs, accelerate its digital transformation and boost its share price. The new structure has two business units â¿¿ commercial and consumer â¿¿ instead of three â¿¿ traditional film and photo paper products; consumer digital imaging and graphic communications, which included printing equipment.Jan. 19 â¿¿ Kodak files for Chapter 11 bankruptcy protection as it seeks to boost its cash position and stay in business. Feb. 9 â¿¿ Kodak says it will stop making digital cameras, pocket video cameras and digital picture frames. Feb. 15 â¿¿ Kodak receives court approval to end its sponsorship deal with the Hollywood theater that is the venue for the Academy Awards. Kodak had signed a $74 million deal for naming rights to the theater in 2000. During the Feb. 26 Oscars ceremony, host Billy Crystal jokingly refers to the venue as "the beautiful Chapter 11 Theater." March 1 â¿¿ Kodak says it plans to sell its online photo service business to online photo publishing company Shutterfly Inc. for $23.8 million. April 27 â¿¿ Kodak says its first-quarter loss widened on a drop in sales and hefty charges related to its reorganization. Revenue fell 27 percent to $965 million, partially as a result of the company's decision to stop selling digital cameras and focus on its other businesses. April 30 â¿¿ Kodak lawyers tell a bankruptcy judge that turnover has become a serious problem. The company was granted approval to pay up to $13.5 million in bonuses to persuade key managers to stay on. May 1 â¿¿ Audio technology company Dolby Laboratories Inc. gets naming rights to the Oscars venue after Kodak ends a deal early. Bankruptcy judge issues order approving sale of online photo business to Shutterfly. May 3 â¿¿ Kodak says Pradeep Jotwani is resigning as the president of consumer business and chief marketing officer. No reason was given.