Report: Kodak to file for Chapter 11
ROCHESTER, N.Y. — Rumors are swirling that Kodak moments may be no more.
According to published reports, the more-than-one-century-old company is looking to seek bankruptcy protection. The Wall Street Journal reported that could file for Chapter 11 bankruptcy this month or in early February and that Kodak was scrambling to sell some of its patents, though a Kodak spokesperson told the publication that "does not comment on market rumor or speculation."
In December, the company announced the sale of its Eastman Gelatine subsidiary.
Meawhile, Kodak earlier this week said that it received a continued listing standards notice from the New York Stock Exchange because the average closing price of the company’s common stock was less than $1 per share over a period of 30 consecutive trading days. On Wednesday, Kodak announced it would release its fourth-quarter earnings on Jan. 26.