A company once synonymous with photography is now telling investors that it doesn’t have enough cash to pay off its debts, raising concerns about its continued presence.
In a Monday second-quarter earnings report, 133-year-old company Eastman Kodak warned investors that it lacked the financial means to make $500 million in upcoming debt payments. The company does not have any committed financing or available cash on hand to pay off its debts, raising “substantial doubt” about its “ability to continue.”
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However, the Rochester, New York-based firm has a plan to raise the cash to meet the