Rochester, New York-based Kodak, the iconic film and photographic products company, has raised doubts about its ability to handle its debtload.
According to a recent quarterly filing...
Going Concern Assessment
Kodak has included a disclosure regarding its going concern assessment in its second quarter 2025 Form 10-Q filing. Kodak’s plans to adequately fund its preferred stock and debt obligations when they become due are to use the proceeds from the expected reversion of cash to the Company upon settlement of obligations under the Kodak Retirement Income Plan to reduce the amount of term debt and to amend, extend or refinance its remaining debt and preferred stock obligations. These plans are not solely within Kodak’s control and therefore are not deemed “probable” under U.S. GAAP accounting rules. As a result, these conditions raise substantial doubt about the Company’s ability to continue as a going concern as of the issuance date of the Company’s second quarter financials. Refer to the Going Concern subsection of Note 1, “Basis of Presentation and Recent Accounting Pronouncements” in the Company’s second quarter 2025 Form 10-Q for additional information.
According to a company spokesperson, “Kodak 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.”
According to a publishedreport, "Kodak says it might have to shut down after 133 years. Kodak’s existence has been tumultuous in recent years. The company filed for Chapter 11 bankruptcy in 2012, while in late 2024, it temporarily paused film production for factory upgrades that would help it keep up with an increased demand. But the end could finally be near for the 133-year-old company. In an earnings report on Monday, Kodak warned investors it doesn’t have the financing needed to pay around $500 million in upcoming debt obligations, and raised doubts about its ability to continue."
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