Kodak Denies It’s Shutting Down Amid Media Reports Of Finicial Struggles

Eastman Kodak is denying reports that it’s shutting down.

On Wednesday, media outlets for illustration CNN and CNBC elaborate nan company’s ongoing financial challenges, including statements made successful its net study that warned investors it didn’t person “committed financing aliases disposable liquidity” to meet indebtedness obligations coming owed wrong 12 months.

However, Kodak quickly published a press release to antagonistic these claims, noting it has “no plans to cease operations” aliases record for bankruptcy protection. Rather, it claims to person plans to “repay, extend, aliases refinance” its indebtedness earlier nan owed date, and expects to person a stronger equilibrium expanse by early adjacent year.

The institution besides offered an mentation of its financials, noting it will usage $300 cardinal successful rate it’s receiving successful December 2025 from its pension scheme termination to reside a ample information of its $477 cardinal successful word debt. It will past reside nan remaining $177 cardinal successful indebtedness and different $100 cardinal successful preferred banal outstanding.

Despite these clarifications connected caller issues, nan 133-year-old institution has regularly struggled pinch finances arsenic integer exertion eclipsed movie sales. Kodak previously revenge for bankruptcy successful 2012. In caller years, however, immoderate Gen Z users person embraced older tech, for illustration compact cameras and dumb phones, arsenic a measurement to pat into nostalgia for a clip they ne'er sewage to experience.