Eastman Kodak has said it has "no intention of filing for bankruptcy".
The struggling US camera and printing group's comments came after it confirmed it had hired a law firm well-known for handling bankruptcy protection cases, Jones Day.
Kodak said it was "not unusual for a company in transformation to explore all options".
Shares in the firm fell 54% on Friday as fears persist about its future. It has not made a profit since 2007.
Kodak, synonymous with film photography for more than 100 years, has struggled to adapt to the digital age. More...