Eastman Kodak Co., the iconic US film company, has warned it may go out of business after more than 130 years in operation. The Rochester, New York-based company reported a second quarter loss and sent shares tumbling. In government filings, Kodak stated there is “substantial doubt” about its ability to continue due to over $470 million in debt.
The company faces significant financial challenges, with declining revenues and gross profit. Its cash balance has decreased by nearly 23% since the end of December. Despite this, CEO Jim Continenza claims that tariffs have not had a “material impact” on the business.
Kodak plans to focus on its advanced chemicals and materials sector moving forward, with a goal of paying down debt. CFO David Bullwinkle stated that the company expects to have a clear understanding of how it will meet its debt obligations by Friday. For the second half of the year, Kodak aims to reduce costs and invest in long-term growth.
Founded by George Eastman in 1889, Kodak has a rich history dating back to the introduction of the Kodak #1 camera in 1888. The company’s struggles with adapting to digital imaging led to bankruptcy in 2012. However, it continues to explore new markets, including specialty chemicals and pharmaceuticals.
Source: https://eu.usatoday.com/story/money/2025/08/12/kodak-may-go-out-of-business-stock-down/85626375007