{"id":872819,"date":"2025-09-14T00:14:36","date_gmt":"2025-09-14T05:14:36","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/14\/concerns-develop-over-kodaks-ability-to-continue-business-operations\/"},"modified":"2025-09-14T00:14:36","modified_gmt":"2025-09-14T05:14:36","slug":"concerns-develop-over-kodaks-ability-to-continue-business-operations","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/14\/concerns-develop-over-kodaks-ability-to-continue-business-operations\/","title":{"rendered":"Concerns develop over Kodak\u2019s ability to continue business operations"},"content":{"rendered":"
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\u201cKodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and\/or preferred stock obligations,\u201d the company said.<\/h2>\n
\n\"Kodak\"
\n\tFILE – The Eastman Kodak Company world headquarters is visible in Rochester, New York, on Friday, April 29, 2022. AP Photo\/Ted Shaffrey, File<\/em>\t<\/figcaption><\/figure>\n
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\n\t\t\t\t\t\t\t\tBy MICHELLE CHAPMAN, Associated Press\t\t\t\t\t\t\t<\/p>\n

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The more than 130-year-old Eastman Kodak Co. is cautioning on its business operations, but says it is confident it will be able to work out upcoming debt obligations.<\/p>\n

\u201cKodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,\u201d the company wrote in a regulatory filing. \u201cThese conditions raise substantial doubt about Kodak\u2019s ability to continue as a going concern.\u201d<\/p>\n

The Rochester, New York-based company said that it had $155 million of cash and cash equivalents as of June 30, with $70 million held within the U.S.<\/p>\n

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Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing.<\/p>\n

\u201cKodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and\/or preferred stock obligations,\u201d the company said.<\/p>\n

Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December.<\/p>\n

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Founded by George Eastman in 1880, Eastman Kodak Co. is credited with popularizing photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology.<\/p>\n

Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents, while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing.<\/p>\n

Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.<\/p>\n

Shares slid more than 25% in midday trading.<\/p>\n

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Skip to Main Content Business \u201cKodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and\/or preferred stock obligations,\u201d the company said. FILE – The Eastman Kodak Company world headquarters is visible in Rochester, New<\/p>\n","protected":false},"author":1,"featured_media":872820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30686,2812],"tags":[7024,5917],"class_list":{"0":"post-872819","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-concerns","8":"category-develop","9":"tag-concerns","10":"tag-develop"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/872819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=872819"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/872819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/872820"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=872819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=872819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=872819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}