Kodak Lays Groundwork For Chapter 11 Filing

The legendary American photo company is reportedly preparing for bankruptcy. The Wall Street Journal says that Kodak could avoid bankruptcy by selling off a trove of patents. But Kodak wants to file Chapter 11. That would allow it to continue operating, but would release it from debts, including its obligations to retirees.

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LINDA WERTHEIMER, HOST:

NPR's business news starts with Kodak fading.

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WERTHEIMER: The legendary American photo company is reportedly preparing for bankruptcy. The Wall Street Journal says the company could avoid bankruptcy by selling off a trove of patents. But it's apparently still laying the groundwork for a Chapter 11 filing that would allow Kodak to continue operating but would release it from debt, including it's obligations to retirees.

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