Eastman Kodak is preparing to file for Chapter 11 bankruptcy according to an unconfirmed report in the Wall Street Journal.
The company has already embarked on a concerted
push to try and sell many of its digital patents
to raise cash and remain afloat.
Kodak already licensed
its projector patents to IMAX in October last year sparking
speculation then that the company was struggling. Its laser projection
technology was approved by the FDA (Food and Drug Administration)
in February last year paving its way for adoption
in the cinema market.
When the technology was launched in
September 2010 it was described as a "game-changer for digital projection".