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**Goooooblin** · 01-05-2012, 10:20 AM

By Richard Waters in San Francisco and Tom Braithwaite in New York

Eastman Kodak has begun preparations for a possible bankruptcy filing even as it continues to pursue asset sales to raise much-needed cash, according to people familiar with the increasingly difficult financial situation at the company.

The US photographic products group has opened discussions with banks over a new line of debt that the company could tap after a filing under Chapter 11 of the US bankruptcy code, which allows companies to continue to trade while reorganising their finances.

Read more @ http://www.ft.com/intl/cms/s/2/ff974...#axzz1iXPQUuGF

Another one bites the dust as not many people uses film negatives preferring going digital.

01-05-2012, 10:20 AM	#1
Goooooblin Join Date Oct 2005 Posts 372 Senior Member	Kodak develops plans for bankruptcy By Richard Waters in San Francisco and Tom Braithwaite in New York Eastman Kodak has begun preparations for a possible bankruptcy filing even as it continues to pursue asset sales to raise much-needed cash, according to people familiar with the increasingly difficult financial situation at the company. The US photographic products group has opened discussions with banks over a new line of debt that the company could tap after a filing under Chapter 11 of the US bankruptcy code, which allows companies to continue to trade while reorganising their finances. Read more @ http://www.ft.com/intl/cms/s/2/ff974...#axzz1iXPQUuGF Another one bites the dust as not many people uses film negatives preferring going digital.
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