Eastman Kodak Company (KODK) is addressing financial challenges by terminating its overfunded pension plan, expecting $500M+ in proceeds by Dec-25. KODK plans to use these funds to pay down term loans, reduce interest expenses, and stabilize its balance sheet, improving cash flow. A major preferred shareholder converted to common stock at a premium, signaling confidence and eliminating a $123M ...
Kodak has issued a statement rebutting “misleading media reports” caused by the widespread furore over its future following its Q2 filing, which was interpreted as a warning that it could cease operations.
Eastman Kodak is denying reports that it's shutting down. On Wednesday, media outlets like CNN and CNBC detailed the company's ongoing financial challenges, including statements made in its earnings report that warned investors it didn't have “committed financing or available liquidity” to meet debt obligations coming due within 12 months.
Film camera company Eastman Kodak is facing significant financial struggles, according to its second quarter earnings report. The challenges come even as Gen Z is largely driving a resurgence of film cameras, leaning into the retro aesthetics.
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