Kodak says it’ll figure things out and won’t shut down

1 week ago 7

Reports of the company’s impending death may have been greatly exaggerated.

by Andrew Liszewski

Aug 13, 2025, 8:52 PM UTC

Rochester New York, Kodak Films world headquarters downtown

Photo by: Education Images/Universal Images Group via Getty Images

Andrew Liszewski

is a senior reporter who’s been covering and reviewing the latest gadgets and tech since 2006, but has loved all things electronic since he was a kid.

In a regulatory filing on Monday, Kodak warned investors that the 133-year-old photography company didn’t have the financing it would need to pay around $500 million of debt obligations that were coming due, raising doubts about the company’s ability to continue.

But in a statement shared with The Verge, Kodak says it plans to use money from the company’s pension fund to pay off a large portion of its debt before it comes due. “The “going concern” language in Kodak’s 10-Q is essentially required disclosure because Kodak’s debt comes due within 12 months of the filing,” according to Denisse Goldbarg, Kodak’s CMO and Head of EAMER Sales.

If anything, Goldbarg says, Kodak will end the process with “a stronger balance sheet than we have had in years.” Here’s Goldbarg’s full statement:

“Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations. To fund the repayment, we plan to draw on the approximately $300 million in cash we expect to receive from the reversion and settlement of our U.S. pension fund (the Kodak Retirement Income Plan, or “KRIP”) in December. However, the KRIP reversion is not solely within Kodak’s control and therefore is not deemed “probable” under U.S. GAAP accounting rules, which is what triggered the “going concern.” Once the KRIP reversion is completed Kodak will be virtually net debt free and will have a stronger balance sheet than we have had in years.”

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