Eastman Kodak, once ranked among America's corporate titans, is preparing to seek bankruptcy protection in the coming weeks, the Wall Street Journal reports. The 131-year-old company is making last-ditch efforts to sell off some patents to avoid Chapter 11 and making preparations if those efforts fail. The company, which has focused on selling consumer and commercial printers the past decade, reportedly needs $1 billion in financing to stay afloat during bankruptcy proceedings.
