Kodak says that you may have to close the store

The famous photography company can run out of work within a year. The 133 -year -old American company warned investors on Monday in A. Organizational deposit There is a “big doubt”, which can maintain its doors open unless its debts are paid or reinstall in its conditions.

In the deposit, Kodak warned that “debts are coming within twelve months and did not adhere to the funding or liquidity available to meet these debts if it becomes due according to its current conditions.” The company added that these conditions “raises great doubts about Kodak’s ability to continue as a continuous work.”

Although Kodak presented the world’s first digital camera in 1973, the company failed to keep pace with changing times, as everyone now holds a camera in their pocket around the clock throughout the week, making independent cameras and movies less important for most people.

“In the second quarter, Kodak continued progress against our long -term plan despite the challenges of unconfirmed business environment,” said Jim Kontenza, CEO of Kodak, on Monday in the second quarterly profits. a report.

In the last quarter, Kodak recorded a net loss of $ 26 million. Since the end of last year, the company has been burned with $ 46 million in cash, leaving it only 155 million dollars. Meanwhile, Kodak holds about $ 500 million of debt.

Kodak did not immediately respond to a request for comment from Gizmodo. However, a CNN spokesman CNN said On Tuesday, “I am sure that he will be able to pay a large part of his corridor loan before he became worthy, modifying, extending or re -financing our remaining obligations and/or remaining stock obligations.”

Kodak said last year that he would end the pension plan to help reduce its debts.

“The end of the United States’ retirement plan in the United States Kodak and the subsequent recovery of excessive debt reduction funds is made as planned,” said David Bolnclke, Kodak Financial Director, in the company’s profit report.

This is not the first time that the company has faced financial conflicts. It has applied for bankruptcy in 2012. Since then, the company has expanded to other industries believed to have growth capabilities, including commercial printing and advanced chemical manufacturing services.

In 2018, Kodak jumped on Blockchain and CryptocurrencyAnnouncing plans to launch a new digital code called Kodakcoins. These symbols were supposed to aim to operate Kodakone, a Blockchain rights platform designed to help photographers register and license new and current work through a safe professor’s book.

But the project was never launched from the ground, and Kodak ultimately canceled the plan.

Now, the company highlights its latest transition to medicines. The company opens a manufacturing facility in Rochester, New York, to produce main starting components for drugs.