Kodak could disappear due to debt. It’s 133 years old

Kodak, a symbol of photography for more than a century, has reported critical financial difficulties. In its latest quarterly report, it said it does not have the resources to repay its debts, which “raises serious doubts” about its ability to continue operating.

In the second quarter of 2025, revenue was $265 million, down 1% from a year earlier. Instead of a profit of $26 million, recorded in the second quarter of 2024, the company received a loss of the same amount.

Kodak’s main problem is its debt of about $500 million, which must be repaid by May 2026. At the same time, according to Chief Accountant and Corporate Controller Richard Michaels, Kodak does not have approved financing and sufficient liquidity to meet its obligations on time.

The company said it intended to pay off part of the debt early, including by ceasing contributions to the corporate pension fund. Tariffs imposed by the Donald Trump administration create additional complications. Since a significant portion of products (cameras, film, printing supplies) are manufactured in the United States, tariffs could significantly increase costs.

Kodak was founded in 1880 by George Eastman, and in 1892 it received the official name Eastman Kodak Company. In the 1970s, the company occupied about 90% of the global film market and 85% of camera sales in the United States.

With the advent of digital technology, Kodak ceased production of film cameras in most countries by 2004. In 2012, it filed for bankruptcy with $6.75 billion in debt, and emerged from it in 2013, focusing on commercial printing, packaging, and brand licensing.

The company later tried to launch smartphones, the KodakCoin cryptocurrency, and produce pharmaceutical ingredients, but the projects did not become sustainable sources of income.

The fashion segment has developed somewhat: more than 120 clothing stores under the Kodak brand have opened in South Korea. However, this business is not able to compensate for the company’s financial losses.