The WSJ says "people familiar with the matter" have confirmed that the filmmaker is in talks with potential lenders for around $1 billion in financing to keep it afloat.
The 131-year-old company is still making last-ditch efforts to sell around 1,100 patents through a court-supervised bankruptcy auction.
A filing for bankruptcy could occur as soon as this month or early February, the source said.
A US based Kodak spokesman told the ABC that the company does not comment on market rumours or speculation.
Kodak shares plunged 28 per cent on the report. Source