In the Monday profit report, which CNN cites, Eastman Kodak She warned that there was no “financing or available liquidity” to pay off about $ 500 million. in upcoming debt obligations.
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“These conditions raise serious doubts as to the company's ability to continue operations,” said Kodak in the application.
Kodak intends to find funds by stopping payments for his retirement plan. The company also stated that it does not expect the duties to have a “significant impact” on its activities, because it produces many of its products, including cameras, inks and films in the United States.
“In the second quarter, Kodak continued his progress in the implementation of our long -term plan despite the challenges related to the uncertain business environment,” said CEO of Kodak Jim Continenza in a message that cites CNN.
The legendary photo company throws a towel
In Tuesday's statement for CNN, Kodak's spokesman said that “he is convinced that he would be able to pay a significant part of his term loan long before its requirement and change, extend or refinance our other debt obligations and / or privileged shares.”
Eastman Kodak Company was founded in 1892, but its roots date back to 1879, when George Eastman obtained the first patent on the plaster coating machine.
Kodak has been a centenary of success in the production of cameras and films. According to “The Economist”, in the 70s the company was responsible for 90 percent. sales of films and 85 percent sale of cameras in the United States.
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However, the company failed to use the development of digital technology. In 2012, the company filed for bankruptcy. At the time of submitting the application, she had 100,000 creditors and debts with a total value of $ 6.75 billion.
In 2020, the Kodak company had a short time when the US government used it to transform it into the producer of pharmaceuticals.
