After 133 years of history: Kodak may cease operations

Eastman Kodak, a 133-year-old company, has informed investors of significant doubts about its ability to continue as a going concern. In its second-quarter 2025 report, it was stated that the company does not have secured financing or sufficient liquidity to repay about $500 million in debt, CNN reports.

Financial indicators show negative dynamics: revenue for the quarter amounted to $263 million, which is 3% less than in the same period last year. Net loss — $26 million, against profit of $26 million a year earlier. Cash reserves decreased to $155 million, of which only $70 million is available in the USA.

Kodak has suspended pension payments to preserve liquidity. The company also said the tariffs would not have a significant impact on its business because most of its products — cameras, film, ink — are made in the United States.

Despite the difficulties, management declares its intention to restructure debt, partially repay the loan before maturity, and continue the development of the pharmaceutical ingredients business, which was activated in 2020. Kodak shares fell by more than 25% after the report was published.

By the way, Kodak was founded in 1892 by George Eastman and quickly became one of the most famous brands in the field of photography. Its film and cameras instantly gained popularity in the 20th century, and the company itself had a key influence on the development of photography and cinematography. However, with the advent of digital photography, Kodak lost market positions, and in 2012 it filed for bankruptcy, after which it tried to diversify its business.