Kodak denies it plans to file for bankruptcy protection
 

Eastman Kodak has said it has "no intention of filing for bankruptcy".

The struggling US camera and printing group's comments came after it confirmed it had hired a law firm well-known for handling bankruptcy protection cases, Jones Day.

Kodak said it was "not unusual for a company in transformation to explore all options".

Shares in the firm fell 54% on Friday as fears persist about its future. It has not made a profit since 2007.

Kodak, synonymous with film photography for more than 100 years, has struggled to adapt to the digital age.

Last week it announced plans to borrow $160m (£103m) for "general corporate purposes".

Kodak is now continuing to explore a sale of its digital imaging patents, worth an estimated $2bn.

Mark Kaufman, an analyst at Rafferty Capital Markets, said: "I don't believe bankruptcy is inevitable.

"This is a pretty valuable portfolio, they should get a good price.

http://www.bbc.co.uk/news/business-15141421

Note: 2 October 2011 Last updated at 10:09 GMT

Well I certainly hope not because I've a good friend who works for them here in the UK :o

Pictures or it didn't happen...

:DL Pun intended?

LOL...nice one :DL

http://img84.imageshack.us/img84/5549/361313gr7.gif