Eastman Kodak 'on verge of bankruptcy'

Eastman Kodak, the company which brought photography to the masses a century ago, is reported to be on the edge of bankruptcy.

The Wall Street Journal said it has already begun preparing to ask for protection from creditors.

This week, the New York Stock Exchange told the company that it faces de-listing from the exchange if its stock price does not come back above the one dollar level.

In 1996, Kodak shares topped $80 but the digital photo revolution meant there was no longer a need for consumers to buy its film.

The company currently employs 19,000 people and had 145,000 workers at its height in the 1980s.