133-Year-Old American Business On The Verge Of Going Out Of Business

You hate to see an American business that has been in business for over a century possibly throwing in the towel.

Kodak has announced that its future is extremely doubtful.

The technology company announced on Monday that it is extremely doubtful that it will operate in the future due to its lack of financial resources.

CBS reported more on Kodak’s potential plans to end its business:

Kodak is warning that its future in business is looking very blurry.

The iconic 133-year-old business cautioned Monday that there’s “substantial doubt” about its ability to continue as a going concern because it might not have the financial resources to meet its future debt obligations, according to an Aug. 11 regulatory filing. A so-called going concern warning is an accounting term that signals a risk that a business might cease operations.

Shares of Kodak plunged $1.73, or 26%, to $5.05 in Tuesday morning trading. Reached for comment, a Kodak spokesperson pointed to the statement in its regulatory filing.

The warning is the latest development in the photography company’s storied history, which includes introducing one of the first consumer cameras in the 1880s and mass manufacturing film rolls for hobbyists and professionals alike. But Kodak struggled to adapt when digital cameras overtook film starting in the 1990s, leading to a bankruptcy filing in 2012.

Its current financial crunch is tied to almost $500 million in short-term debt obligations, as well as more than $200 million in pension liabilities. Last year, Kodak had said it would end its pension plan in order to reduce debt, according to the Wall Street Journal.

Kodak, once synonymous with the “Kodak moment,” says there’s “substantial doubt” it can survive as debt mounts. The 136-year-old company has shifted from cameras to printers, film and licensing after years of decline. https://t.co/3wuvHtsGSc pic.twitter.com/WavF8Ag4OU

— CBS Evening News (@CBSEveningNews) August 12, 2025

Only one of two ways this can go… buy or sell Kodak? pic.twitter.com/WvArcoRjOn

— MJTruthUltra (@MJTruthUltra) August 12, 2025

The Democrat & Chronicle reported that tariffs have had no impact on the company:

CEO Jim Continenza noted that recent tariffs had no material impact on the company’s core businesses due to domestic production of film, printing plates, ink, and pharmaceutical ingredients.

David Bullwinkle, Kodak’s chief financial officer, said the company is prioritizing its advanced chemicals and materials business moving forward. Kodak also recently announced cuts to its retirement plan in an effort to pay down debt.

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Bullwinkle said the company expects to “have a clear understanding” of how it will address its financial obligations by Friday, Aug. 15.