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.
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