Kodak dealers and film buffs are reacting to the news of the company filing for bankruptcy protection. YNN's Kevin Jolly stopped by one photo processing lab that's been using Kodak products for more than 30 years to find out how the move could impact business.

AMHERST, N.Y. — Thomas Gangloff's relationship with Kodak began more than 30 years ago as a student at Rochester Institute of Technology. Now, as co-owner of ColorTech photo labs on Sheridan Drive in Amherst, he's been selling Kodak products for three decades.

"We're a Kodak dealer, so we sell Kodak products, so we do some trade testing for them and some of their products. Sometimes they'd come here and use our lab to run a test in a real live environment, but things have changed over the years, obviously," said Gangloff.

The biggest change was the advent of digital photography. Ironically, Kodak, the company that invented the first digital camera, actually got left behnd in the digital revolution.

"I think the people that were real good with film, and Kodak was good with film, liked the film and the print image, so we were all a little bit surprised at how fast it transitioned to digital," Gangloff said.

This week, the name is synonymous with photography announced it's filing for Chapter 11 bankruptcy protection. The move comes as the failing company was unable to sell it's 1,100 patents which it hoped to get billions for.

The news took Beatrice Slick by surprise.

"I'm very much into photography I always liked their product, it saddened me. Kodak is of course big in our neighbor city Rochester and so obviously it means lot of jobs," said Slick, a customer.

Thursday , the company said it has secured $950 million in financing from Citigroup Inc., and expects to be able to operate its business during bankruptcy reorganization and pay employees.

Gangloff thinks the Chapter 11 reorganization could give the ailing photo giant one last chance at survival. In the meantime, he wants his customers to know despite Kodak's financial troubles, Color Tech is not going out of business.

"We're just a Kodak dealer we just sell the product. We keep getting product, we have maintainance support for some of our equipment. It's sort of business as usual but from the stock standpoint, I think we're all waiting to see what the bottom line was and I don't think anyone knew what that is," said Gangloff.