Kodak reshuffling to avoid bankruptcy

Struggling photography brand Kodak has hired law firm Sullivan & Cromwell's, in a bid to restructure its finances in order to avoid bankruptcy, according to reports.
Earlier in the year, Kodak employed Jones Day, sparking worldwide speculation that it was about to file for bankruptcy, as Jones Day is well known for working on such cases.
The reasons behind the switch in law firms remains unclear, however Kodak is remaining resolute regarding filing, seemingly keen to avoid it all costs.
Kodak has been facing increasing financial problems, with warnings last month that it could run out of cash if couldn't sell assets or raise new funds quickly. By the end of September, Kodak had $862m, down f... »read more

More at: TechRadar UK Add additional source