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Eastman Kodak is denying reports that it\u2019s shutting down. <\/p>\n
On Wednesday, media outlets like CNN<\/a> and CNBC<\/a> detailed the company\u2019s ongoing financial challenges, including statements made in its earnings report that warned investors it didn\u2019t have \u201ccommitted financing or available liquidity\u201d to meet debt obligations coming due within 12 months.<\/p>\n However, Kodak quickly published a press release<\/a> to counter these claims, noting it has \u201cno plans to cease operations\u201d or file for bankruptcy protection. Rather, it claims to have plans to \u201crepay, extend, or refinance\u201d its debt before the due date and expects to have a stronger balance sheet by early next year.<\/p>\n The company also offered an explanation of its financials, noting it will use $300 million in cash it\u2019s receiving in December 2025 from its pension plan termination to address a large portion of its $477 million in term debt. It will then address the remaining $177 million in debt and another $100 million in preferred stock outstanding. <\/p>\n Despite these clarifications on recent issues, the 133-year-old company has regularly struggled with finances as digital technology eclipsed film sales. Kodak previously filed for bankruptcy<\/a> in 2012. In recent years, however, some Gen Z users have embraced<\/a> older tech<\/a>, like compact cameras<\/a> and dumb phones<\/a>, as a way to tap into nostalgia for a time they never got to experience.<\/p>\n We\u2019re always looking to evolve, and by providing some insight into your perspective and feedback into TechCrunch and our coverage and events, you can help us!\u00a0<\/em>Fill out this survey to let us know how we\u2019re doing<\/em><\/a>\u00a0and get the chance to win a prize in return!<\/em><\/p>\n<\/div>\n
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