Kodak assures that the company is not closing and plans to pay off debts

After a wave of reports of possible bankruptcy, 133-year-old Eastman Kodak has said it has no intention of shutting down operations, The Verge reports.

In a recent filing with regulators, the company warned of difficulties in paying about $500 million in debt due over the next 12 months, raising doubts about its future. Kodak CMO Denise Goldberg explained that the "going concern" wording in the filing was a technical requirement as the debt is coming due.

As of August 2025, Kodak has approximately $477 million of term debt and $100 million of preferred stock outstanding. The principal repayment plan involves using approximately $300 million of cash that the company expects to receive in December 2025 upon completion of the liquidation and settlement of the Kodak Retirement Income Plan (KRIP). An additional $200 million of the fund's assets are planned to be converted into cash. Under the terms of the credit agreements, this $300 million is to be used to prepay a portion of the debt, after which the company plans to refinance or extend the remaining $177 million and $100 million of preferred stock outstanding.

Management says that after the completion of the KRIP transaction, the company's balance sheet will be "the strongest in recent years" and net debt will be close to zero. Current operations, according to management, remain stable and self-sufficient, and the company does not plan to use funds from the pension fund to finance daily operations.