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Veteran film company Eastman Kodak is reportedly preparing to file for bankruptcy protection according to a Wall Street Journal report.
The company has been trying to sell off a raft of imaging patents to raise cash with the company earlier warning that it would be unable to survive if it couldn’t raise $500 million either by credit or selling off patents.
If the company fails it will be a sad end for the 131-year-old film pioneer that once invented the digital camera. That said, Kodak never managed to successfully move the business to digital, instead choosing to focus on chemicals for traditional photography.
