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Kodak announced Monday in a Securities and Exchange Commission (SEC) request that there was “substantial doubt” about the ability of the company to stay in business.
The company is planning to pay off part of its debt and to use the preference for shares with the help of money that it expects to return from his pension plan. The company hopes to change the conditions, push the expiry dates or to refinance the remaining debts and preferential stock obligations, those payments that are promised to holders of special shares that are usually paid for regular shareholders.
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Since these plans depend on things outside the control of Kodak, they are not considered reliable according to the bookhoud rules of the US. That is why there is serious concern about whether the company can remain in operation, from the date that it has released its second quarter of financial results, according to the submission.
Kodak is planning to pay off part of his debt and to use the preference for shares with the help of money that it is expected to get back from his pension plan. (Paul Morris / Bloomberg via Getty Images / Getty images)
Kodak pioneered film photography and dominated the market for a large part of the 20th century. It became a household name, known for products such as disposable cameras, and at its peak managed more than 80% of the American film market.
Kodak invented the first digital camera in 1975, but did not succeed in embracing technology, for fear that it would be able to cannibalize his film company.
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Kodak once dominated the American film market. ((Photo by Nikos Pekiaridis / Nurphoto via Getty Images) / Getty Images)
When digital photography took over, Kodak’s core activities collapsed. Although it eventually tried to jump in the digital photography game, it struggled to keep up with emerging competitors such as Canon, Sony and Nikon, who embraced it early.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| Kodk | Eastman Kodak Co. | 5.10 | -1.70 |
-24.99% |
In 2012 it was brought by debts with debts.
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Kodak invented the first digital camera, but did not invest in technology, for fear that it would be able to can be able to can be able to cany his film activities. (Jim Laragy / Bloomberg via Getty images) / Getty images)
While the company came out of protection in 2013, it never regained its dominant position in the market. To try to save his business, it turned from consumer photography to commercial printing and technology. At the same time it tried to breathe new life into his brand through license -deals and daring experiments, such as working with Forever 21 to a clothing collection, before the clothing chain collapsed and with urban outfitters to sell its products.
