Eastman Kodak Co. is running into hurdles trying to sell some of its patents or borrow more money, as the film giant scrambles to raise cash, the Wall St Journal reports.
The steps are important if Kodak is to stay out of bankruptcy court. The 131-year-old company says it is making progress on both fronts, but people familiar with the matter say there are sticking points.
Kodak has been in talks for new financing with a consortium of hedge funds including Cerberus Capital Management LP and Highbridge Capital Management LLC. The company needs the money to shore up its cash position until it can complete….
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