133-year old Kodak says it might have to cease operations

Eastman Kodak, the 133-year-old photography company, is warning investors thats it might not survive much longer.

In its earnings report Monday, the company warned that it doesn’t have “committed financing or available liquidity” to pay its roughly $500 million in upcoming debt obligations. “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Kodak said in a filing.

Kodak aims to conjure up cash by ceasing payments for its retirement pension plan. It also said that it doesn’t expect tariffs to have “material impacts” on its business because it manufactures its many of its products, including cameras, inks and film in the United States.

Kodak had a century of success producing cameras and film. At one point in the 1970s, it was was responsible for 90% of film and 85% of camera sales in the United States, according to The Economist. Paul Simon’s hit song “Kodachrome” topped the charts in 1973.

133-year old Kodak says it might have to cease operations | CNN Business

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