Kodak says that reports of his prominent death are largely exaggerated

Fears have been harnessed that Kodak, one of the last large movie companies in the world, may close its doors soon. These concerns are paid Organizational It was released on Monday, when the company talked about the burden of debt and the lack of liquidity to pay it. However, the company has since appeared to deny that it will be closed any time soon.

The company said: “Media reports indicate that Kodak stops operations, gets out of work, or applies for bankruptcy inaccurate and reflects a basic misunderstanding of the recent technical disclosure that the company submitted to the Supreme Education Council in the recently submitted quarter -profit report.” In a press release Publishing Thursday. “These articles are misleading and lost context, and we would like to put the record straight.”

The disclosure of Monday said that the company “caused debts within twelve months” and that it “did not abide by the financing or liquidity available to meet these debt obligations if it became due according to its current conditions.” The company said that the debt bonus includes about $ 477 million of debt per term, in addition to $ 100 million in favorite stocks.

The company’s plan to pay this debt partially includes selling employee pension plans. Democratic and Cronic Reports thatLast November, the company announced a plan to sell $ 764.4 million in its pension system. About 35,000 pensioners receive a pension from the company, The Wall Street Journal Reports. The sale can lead to “a cash profit of up to $ 585 million that Kodak will use to reduce debts and invest in its business,” according to the magazine.

In its update on Thursday, the company said: “Kodak was preparing to end the pension plan for some time and expect to get about $ 500 million of assets – after Meet our obligations towards all participants in the pension fund – in December 2025 when the transaction is closed. It is expected that approximately $ 300 million of money will be cash, and approximately $ 200 million is expected to be investment assets that will be converted into cash. “

The company also explained its plans in this way: “Kodak is required through its loan documents to use $ 300 million of money expected in December to pay debts in the range. Kodak can then process $ 177 million in the term debt and $ 100 million in favorite stocks.”

Kodak now says he is “confident that he will pay, extend, or reinstal his debts, preferably his favorite shares, or before that, the date of entitlement.” The latest organizational deposit was also called a “technical report required through the rules of accounting”, and said that “he has no plans to stop operations, get out of work or a bankruptcy file.” Gizmodo communicate to Kodak for more information.

Proof films expressed her concerns about Kodak’s struggles, because the company is one of The largest contemporary service providers for film shares To the animation industry. The company also still sells a variety of cameras and provides digital services as well.