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Kodak Says It'll Figure Things Out and Won't Shut Down
Kodak says it remains confident it can avoid shutdown despite filing required "going concern" disclosures about $500 million in debt obligations due within 12 months. The 133-year-old photography company plans to draw approximately $300 million from its U.S. pension fund in December to pay off a sig...
Kodak says it remains confident it can avoid shutdown despite filing required "going concern" disclosures about $500 million in debt obligations due within 12 months. The 133-year-old photography company plans to draw approximately $300 million from its U.S. pension fund in December to pay off a significant portion of its term loan before maturity. Chief Marketing Officer Denisse Goldbarg said the disclosure was mandatory under accounting rules but Kodak would emerge virtually debt-free.
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