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/ff974f38-372b-11e1-96bf-00144feabdc0.html#axzz1iXPQUuGF
Another one bites the dust as not many people uses film negatives preferring going digital.:(
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/ff974f38-372b-11e1-96bf-00144feabdc0.html#axzz1iXPQUuGF
Another one bites the dust as not many people uses film negatives preferring going digital.:(
