Kodak denies it plans to file for bankruptcy protection
13:12, 3 October 2011
NDON. October 3. KAZINFORM Eastman Kodak has said it has "no intention of filing for bankruptcy"; Kazinform refers to BBC.
The struggling US camera and printing group's comments came after it confirmed it had hired a law firm well-known for handling bankruptcy protection cases, Jones Day.
Kodak said it was "not unusual for a company in transformation to explore all options".
Shares in the firm fell 54% on Friday as fears persist about its future. It has not made a profit since 2007.
Kodak, synonymous with film photography for more than 100 years, has struggled to adapt to the digital age.
Last week it announced plans to borrow $160m (£103m) for "general corporate purposes".
Kodak is now continuing to explore a sale of its digital imaging patents, worth an estimated $2bn; Kazinform cites BBC.
To learn more go to www.bbc.co.uk