Eastman Kodak says it is exploring “other alternatives” in its bid to escape bankruptcy after it admitted that a plan to auction-off its digital imaging patents was faltering.

“The debtors are continuing to explore other alternatives with respect to the digital imaging patent assets and their intellectual property more broadly, and may not reach acceptable terms with parties via the auction process,” the firm said in a recent court filing.

A 19 September court hearing to approve the patents sale has been called off “until further notice.”

Kodak filed for bankruptcy protection earlier this year. Its 1,100-strong patent portfolio is seen as its most significant asset, due to the inclusion of digital camera features in a range of devices, including smartphones and tablets.

Apple and Google are said to have been among the firms thought to have made offers, but bidding was reportedly well below Kodak’s US$2.6 billion valuation.

Kodak said it was still in “active negotiations” about selling the patents – but that it “may, in consultation with its creditors, decide to retain and license these assets as a source of recovery for creditors.”