After 133 years of continuous operation, Kodak has warned that due to its debts, the continuation of its business activities is at risk, although it states that it can meet its immediate obligations.
The company noted that it has debts maturing within 12 months and lacks the funding or available liquidity to cover these obligations if they become due under current terms, creating significant doubts about Kodak’s ability to continue operating.
Eastman Kodak Co., founded in 1880 by George Eastman, is considered a pioneer in the popularization of photography in the early 20th century.
Kodak became globally famous for its Brownie and Instamatic cameras and its distinctive colorful film boxes.
Initially, the company was hit by Japanese competition and later struggled to adapt to the transition from analog to digital technology.
In January 2012, Kodak filed for bankruptcy under Chapter 11, and in February of the same year, it announced it would stop producing digital cameras, camcorders, and digital frames.
Nevertheless, digital cameras are still sold under the Kodak brand by JK Imaging Ltd through an agreement with the company.
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