AM I NEXT? NO LOVE AT MILLER INDUSTRIES

Ooltewah, Tennessee-based Miller Industries, a manufacturer of tow trucks, towing equipment, car carriers, and associated recovery products, has announced a comprehensive cost reduction plan designed to enhance operational efficiency and ensure the company's long-term success.

The cost-reduction program will impact 150 employees across the company's three plants in Ooltewah, Tennessee, Greeneville, Tennessee, and Hermitage, Pennsylvania.

According to CEO William G. Miller, “In the second quarter, we faced challenges in the market, predominantly related to industry-wide demand headwinds. Retail sales activity was down 20% quarter over quarter, resulting in a 30% decrease in order intake from distributors. We attribute the decreased demand largely to lower consumer confidence and elevated costs of ownership, which takes into account interest rates, insurance costs, and tariff-related price increases. We also continue to see elevated field inventory in our distribution channel, impacting demand, which has persisted since the end of last year. We are closely monitoring and adjusting production levels to meet current demand and accelerate the reduction of channel inventory, taking significant steps to improve our costs, and securing our supply chain to mitigate the long-term risks of tariffs.”

"This was an incredibly difficult decision, and we understand the impact it will have on our employees and their families. We are deeply grateful for the contributions of each individual who is leaving the company. They have been instrumental in our success, and we wish them well in their future endeavors."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT MAVERIK

Salt Lake City, Utah-based Maverik, a national operator of branded convenience stores and gas stations, has announced the further consolidation of its headquarters operations and relocation of its Des Moines, Iowa, Kum & Go headquarters to Salt Lake City, Utah.

The relocation will impact 100 Des Moines employees on or after October 6, 2025.

According to a company statement, "As part of our ongoing efforts to improve efficiency and better serve our growing customer base, Maverik has made the difficult decision to consolidate its Base Camp headquarters in Salt Lake City. A limited presence will remain in Des Moines to support geographically based business needs. We are currently working closely with impacted Team Members to develop individual plans, including relocation opportunities, and are committed to supporting them with transparency and care throughout this transition."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT KODAK

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."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?