Kodak's Financial Struggles: Photography Giant's Future in Doubt

Eastman Kodak Co, a 130-year-old photography pioneer, faces significant financial challenges, casting doubt on its continued viability. The company is struggling with upcoming debt obligations and limited liquidity. Kodak's historical shift from film to digital made them seek new ventures, including pharmaceuticals, to stabilize operations.

Eastman Kodak Co, an iconic name in photography, is grappling with significant financial troubles, raising concerns about its future viability. Based in Rochester, New York, the company has warned of its potential inability to meet imminent debt obligations due to limited liquidity.

With USD 155 million in cash and cash equivalents as of June 30—USD 70 million held domestically—Kodak is actively seeking a solution for its financial woes. The company recently decided to terminate its retirement income plan, aiming to alleviate debt pressures, a move announced last year.

Having filed for bankruptcy in 2012 and re-emerged post-restructuring, Kodak is transitioning its focus from photography to pharmaceuticals, nearing completion of a facility for regulated pharma products. The plant, expected to commence production later this year, signifies Kodak's latest attempt to adapt and survive amid evolving market dynamics.

(With inputs from agencies.)