Kodak reassures public amidst misleading reports of financial distress

Kodak emphasised that it has "no plans to cease operations, go out of business, or file for bankruptcy protection." On the contrary, the company expressed confidence in its ability to manage its debt obligations, stating it expects to "repay, extend, or refinance its debt and preferred stock on, or before, its due date."

The core of the misunderstanding, according to Kodak, lies in the "going concern disclosure" – a standard technical report required by accounting rules. The company aims to complete planned transactions, expected early next year, which will result in a significantly stronger balance sheet and leave Kodak "virtually net debt free."

A key component of Kodak's financial strategy involves its pension fund. The company anticipates receiving approximately USD 500 million in assets from a pension plan termination in December 2025, with an estimated USD 300 million of that expected to be cash. This cash will be used to repay a portion of its term debt, which currently stands at USD 477 million along with USD 100 million of preferred stock.

Beyond debt reduction, Kodak highlighted the stability of its ongoing operations. The company reported using only USD 3 million in cash in Q2 2025, primarily for growth initiatives, a significant improvement from the previous quarter. Kodak assured stakeholders that it does not intend to rely on the pension fund transaction for its operational funding.

In closing, Kodak reiterated its optimism for the future and its commitment to meeting all obligations. The company encouraged interested parties to review its Form 10-Q filed with the SEC on 11 August, 2025, for more detailed information.