From rumours of collapse to financial recovery: what's really going on with Kodak
In mid-August, a real panic broke out on the newswires: Kodak was about to close, go into bankruptcy, and forever remain only in the memories of old film camera enthusiasts. But the company itself quickly dotted the i's: "Guys, we're still here and we're not going anywhere".
Dispelling the myths
- Myth 1: Kodak is bankrupt. Actually, it isn't. The company continues to operate and make money.
- Myth 2: Debt will bury us. No, they won't. Some of the debts will be paid off, some will be refinanced, and at the beginning of 2026 the balance sheet will be cleaner than the film in the developer room.
- Myth 3: Pensioners will be left without payments. It's the opposite: the obligations to the pension fund will be fulfilled in full, and after that the company will be left with $500 million of "free" assets.
The main intrigue is December 2025, when Kodak will receive this very $500 million. $300 million of which will be immediately used to repay part of the $477 million debt. The rest of the debt and $100 million of preferred shares the company is going to close separate deals.
And now an important point: in the second quarter of 2025, Kodak spent only $3 million on development. And that's without the "help" of pension money. In other words, the business lives on its own, not through one-off infusions.
And if you look back, it becomes clear: it is still the same company that in 1975 invented the world's first digital camera, and today survives not thanks to nostalgia, but at the expense of technology and adaptation.
Bottom line: rumours of Kodak's death are greatly exaggerated. Rather, we are waiting for the story of how a brand with a century of history will get back on its feet and say to the market: "Click!".
Source: Kodak
