133-year old Kodak says it might have to cease operations
12 days ago
- #Bankruptcy
- #Kodak
- #Photography
- Eastman Kodak warns investors it may not survive due to lack of financing for $500M debt obligations.
- Kodak plans to stop pension payments to generate cash and claims tariffs won't significantly impact its US-based manufacturing.
- Kodak's stock fell over 7% in premarket trading following the earnings report.
- Founded in 1892, Kodak revolutionized photography with affordable cameras and dominated the film market in the 1970s.
- Kodak invented the first digital camera in 1975 but failed to capitalize on digital technology, leading to bankruptcy in 2012.
- In 2020, Kodak briefly surged when the US government selected it to produce pharmaceutical ingredients.
- Despite recent struggles, Kodak continues to manufacture film and chemicals, and licenses its brand for consumer products.