Eastman Kodak is denying reports that it is shutting down. On Wednesday, media outlets detailed the company’s ongoing financial challenges, including statements from its earnings report warning investors it lacked “committed financing or available liquidity” to meet debt obligations due within 12 months.
However, Kodak quickly issued a press release to counter these claims, stating it has “no plans to cease operations” or file for bankruptcy protection. The company emphasized its intention to “repay, extend, or refinance” its debt before the due date and expects to strengthen its balance sheet by early next year.
Kodak also explained its financial strategy, noting it will use $300 million in cash from its pension plan termination in December 2025 to cover a significant portion of its $477 million term debt. The remaining $177 million in debt and $100 million in preferred stock will be addressed afterward.
Despite these reassurances, the 133-year-old company has faced persistent financial struggles as digital technology overtook film sales. Kodak previously filed for bankruptcy in 2012. In recent years, however, some Gen Z users have embraced older tech, such as compact cameras and basic phones, as part of a nostalgic trend for eras they never experienced firsthand.