Kodak is addressing media reports of a shutdown, asserting it has no plans to cease operations or file for bankruptcy. The company highlighted ongoing financial difficulties, warning investors about lack of liquidity and financing to meet upcoming debt obligations. Kodak intends to use $300 million from a pension plan termination by December 2025 to reduce its term debt by a significant portion. It aims for a stronger balance sheet by early next year, while acknowledging historical financial struggles due to shifts from film to digital technology.
Kodak will use $300 million in cash from its pension plan termination in December 2025 to address much of its $477 million in term debt.
Kodak has no plans to cease operations or file for bankruptcy protection, claiming it will repay, extend, or refinance its debt before the due date.
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