Eastman Kodak has denied reports that it has been closed.
On Wednesday, media outlets such as CNN and CNBC detailed their continued financial challenges, including a statement made in their revenue report that warned investors were not meeting “committed funds or available liquidity” to meet debt scheduled within 12 months.
However, Kodak quickly released a press release to counter these claims, noting that there are “no plans to stop operations” or that there are filings of bankruptcy protection. Rather, it claims that there are plans to “repay, extend or refinance” debt by the deadline, and that the balance sheet is expected to be strong by the beginning of next year.
The company also provided financial explanations and noted that it would use the $300 million cash it received in December 2025 from the end of the pension plan to address a large portion of its $477 million term obligation. They then sell the remaining $177 million in debt and $100 million in preferred stock.
Despite these explanations on recent issues, the 133-year-old company has regularly struggled financially as digital technology overturned film sales. Kodak previously filed for bankruptcy in 2012, but in recent years some Gen Z users have embraced older technologies such as compact cameras and stupid phones.
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