The newspaper also mentioned that at present a 131-year-old American institution is trying to sell the company's 1100 patent portfolio, to prevent the threat.
Kodak also reportedly active in talks with a number of banks in an effort to reach a financial aid package of U.S. $ 1 billion, which will provide space for the company to continue operations during the bankruptcy process.
However, when asked about the recent situation, the company that just say "no comment on market rumors or speculation."
The situation is a dramatic turn in a matter of luck for the company, which previously had dominated the entire camera industry. It is of course also threaten the future of about 19,000 Kodak employees.
In several occasions, the company has put much stock in the printer industry and never rose from the dead negative film camera, long before digital cameras and smartphones make Kodak is almost obsolete and shrinking market share.
Wall Street Journal report indicates that although Kodak's digital cameras first discovered in 1975, but the company is not able to exploit an invention, even a recent report mentioned that Kodak's stock has plummeted about 28 percent.
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