05 Jan '12, 10am

Report: Kodak may file for bankruptcy - Yahoo! via @yahoosg

ROCHESTER, N.Y. (AP) — An uncomfortable suspicion that an icon of American business may have no future pushed investors to dump stock in Eastman Kodak Co. Wednesday. The ailing photography pioneer's shares fell to a new all-time low after the Wall Street Journal reported that Kodak is preparing for a Chapter 11 filing "in the coming weeks" should it fail to sell a trove of 1,100 digital-imaging patents. Analysts have said the patents could fetch $2 billion to $3 billion, but no takers have emerged since Kodak started shopping them around in July. In November, the 131-year-old company said it could run out of cash in a year if it didn't sell the patents. Even as it looked to a future rooted in its emerging printer business, the company was reporting a third-quarter loss of $222 million — its ninth quarterly loss in three years — and it said its cash reserves had fallen 10 p...

Full article: http://sg.news.yahoo.com/report-kodak-may-file-bankruptcy...

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