OUTPUT

Eastman Kodak's share price on the New York Stock Exchange tumbled today to $0.36 (23p) per share, its lowest ever, amidst reports that it is considering filing for Chapter 11 bankruptcy protection in the USA.

The crash occurred days after receiving a continued listing standards notice from NYSE, issued because its average closing price was less than $1 (64p) per share for 30 consecutive days of trading. Eastman Kodak has six months to recover its standing before being removed from the exchange.

Despite 40 percent growth in sales of the company's web-fed digital press platform Kodak Prosper between Q3 2010 and Q3 2011, the company announced losses in the first three-quarters of 2011 and in nine of the twelve quarters in the last three years.

According to reports, Eastman Kodak is in talks with banks over a $1bn loan in anticipation of filing for Chapter 11, and has tried unsuccessfully to sell some of its 11,000 technology patents over the last several months. One expert told Output that intellectual property, corporate restructuring and disaster PR specialists were engaged last autumn, but that repercussions for Kodak users in the short term would be minimal.