Main US images model warns it may exit of enterprise

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Your help makes all of the distinction. Learn extra Eastman Kodak Co., the images large with a historical past spanning over 130 years, has issued a stark warning concerning its future, stating there may be "substantial doubt" about its skill to stay operational.

The corporate indicated it could battle to satisfy impending debt obligations, a revelation that noticed its shares plummet by greater than 13 per cent in early buying and selling on Tuesday.

In a regulatory submitting, Kodak explicitly said: "Kodak has debt coming due inside 12 months and doesn't have dedicated financing or obtainable liquidity to satisfy such debt obligations in the event that they had been to change into due in accordance with their present phrases."

It added, "These circumstances increase substantial doubt about Kodak’s skill to proceed as a going concern."

Primarily based in Rochester, New York, the agency reported money and money equivalents of $155 million of money and money equivalents as of June 30, with $70 million of that held inside the US.

This follows a transfer final yr, reported by The Wall Road Journal, the place Kodak ended its retirement earnings plan in an effort to cut back its debt burden.

<img src="https://static.independent.co.uk/2025/08/12/14/Kodak-Solvency_67659.jpg" srcset="https://static.independent.co.uk/2025/08/12/14/Kodak-Solvency_67659.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/08/12/14/Kodak-Solvency_67659.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Shares of Kodak slid more than 13 per cent in early trading on Tuesday" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Shares of Kodak slid greater than 13 per cent in early buying and selling on Tuesday (Related Press) Kodak Chief Monetary Officer David Bullwinkle stated in a press release on Monday that the corporate expects to know by Friday the way it will fulfill its obligations to pay all pension plan members and foresees finishing the reversion by December.

Based by George Eastman in 1880, Eastman Kodak Co. is credited with popularizing images at first of the twentieth century and was recognized all around the world for its Brownie and Instamatic cameras and its yellow-and-red movie packing containers.

It was first introduced down by Japanese competitors after which an incapacity to maintain tempo with the shift from movie to digital know-how.

Kodak filed for chapter safety in 2012 after fighting growing competitors, persevering with progress in digital images and rising debt.

The corporate wound up promoting off a lot of its companies and patents, whereas shutting down the digital camera manufacturing unit that first made it well-known.

<img src="https://static.independent.co.uk/s3fs-public/thumbnails/image/2013/02/20/17/pg-37-old-tech-super8.jpg" srcset="https://static.independent.co.uk/s3fs-public/thumbnails/image/2013/02/20/17/pg-37-old-tech-super8.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/s3fs-public/thumbnails/image/2013/02/20/17/pg-37-old-tech-super8.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Kodak is a historic pioneer in photography and produces film, cameras and photo prints" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Kodak is a historic pioneer in images and produces movie, cameras and photograph prints It obtained approval for its plan to emerge from court docket oversight a yr later. On the time, Kodak was trying to recreate itself as a brand new, a lot smaller firm centered on business and packaging printing.

Kodak is now nearing completion of a producing plant to create regulated pharmaceutical merchandise.

The corporate already makes unregulated key beginning supplies for prescribed drugs. Manufacturing on the retrofitted facility is anticipated to begin later this yr.