Kodak shares fell by 28% on the speculation over the bankruptcy

Eastman Kodak shares tumble 28% amid the speculation that company is going to apply for bankruptcy protection. The company did not comment the rumours. However, the Wall Street Journal claims the company has begun looking for options to prevent its bankruptcy and filed for bankruptcy protection of Chapter 11 in the US. Moreover, Kodak started negotiations with banks to raise about $1bn to continue operations during proceedings of the Chapter 11, the newspaper added.