By Marcus Leach

Photographic giants Kodak are said to be filing for Chapter 11 bankruptcy protection, a move which has sparked a major drop in their share prices.

The move to file for protection comes amidst fears they may not be able to sell their digital patents to raise much needed capital.

Kodak are in talks with potential lenders to secure the finance needed to sustain the firm through the bankruptcy process.

Shares in Kodak fell 28% on the New York Stock Exchange yesterday (Wednesday).

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