Others have mentioned that Kodaks film business was mostly profitable even in the last 10 years. Kodak with its long time monopoly status used to be very generous when it came to worker compensation and retirement benefits, and they are paying dearly for this now. A chapter 11 might well release them from this burden and turn them into a quite profitable film business at 1/10 of their current size (or at their current size if the movie industry wants).
There will be investors who will invest in a profitable business and others who won't touch anything film related and rather invest in the next AAA rated pile of fertilizer (lots of growth potential here! ).
There are a much more pressing dangers to Kodak's credit options: a huge unprofitable digital branch which can't even sell their patent portfolio for a reasonable price and the aforementioned burden from previous golden decades in the form of huge pension and health benefit liabilities.