133-year old Kodak says it might have to cease operations

Tavsif:

Eastman Kodak warned it may not survive, citing a lack of committed financing or liquidity to cover about $500 million in upcoming debt. The 133-year-old photography company plans to cut pension payments and sell assets to raise cash. Shares fell over 7% after the announcement. Once dominant in film and cameras, Kodak’s failure to adapt to digital photography led to a 2012 bankruptcy, CNN has reported. It has since pivoted to making films, chemicals, and licensing its brand, with recent efforts to expand into pharmaceutical ingredients.