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Iconic film pioneer has been trying to sell off a trove of imagine patents to raise money but it could be too little too late.

Kodak to file for bankruptcy says WSJ

Veteran film company Eastman Kodak is reportedly preparing to file for bankruptcy protection according to a Wall Street Journal report.

The company has been trying to sell off a raft of imaging patents to raise cash with the company earlier warning that it would be unable to survive if it couldn’t raise $500 million either by credit or selling off patents.

If the company fails it will be a sad end for the 131-year-old film pioneer that once invented the digital camera. That said, Kodak never managed to successfully move the business to digital, instead choosing to focus on chemicals for traditional photography.

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