Kodak denies ‘inaccurate’ closure reports

Earlier in August 2025, the 133-year-old photography company warned in its second quarter earnings report that it didn’t have “committed financing or available liquidity” to pay its roughly $500m in upcoming debt obligations. “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Kodak said in a filing. 

According to Kodak’s recent filing, sales fell 1% to $263m and gross profit margins reduced from 22% to 19%. The net loss for the quarter was $26m, compared with a net profit of $26m the prior year. 

The earnings report led some media outlets to interpret this as the end of the road for the company. However, this week, Kodak issued a statement to set the record straight, saying that it had to include a going concern note with its quarterly update to comply with accounting rules. 

“Media reports that Kodak is ceasing operations, going out of business, or filing for bankruptcy are inaccurate and reflect a fundamental misunderstanding of a recent technical disclosure the company made to the SEC [Securities and Exchange Commission] in its recently filed second quarter earnings report.  

“These articles are misleading and missing critical context, and we'd like to set the record straight. The most important things to know are: Kodak has no plans to cease operations, go out of business, or file for bankruptcy protection. To the contrary, Kodak is confident it will repay, extend, or refinance its debt and preferred stock on, or before, its due date.” 

Kodak launched its first camera in 1888, helping to make photography widely accessible. It became one of the world’s most recognised brands in the 20th century through its film photography products. At one point in the 1970s, it was responsible for 90% of film and 85% of camera sales in the US, according to The Economist.  

However, Kodak struggled to adapt to the changing industry as digital imaging took over. The company filed for bankruptcy in 2012. In recent years, it has focused on speciality chemicals and pharmaceuticals. 

 Kodak recently created a new IMAX EktaChrome film stock just for the movie Sinners. Discover more here.