Kodak says it’ll figure things out and won’t shut down
Kodak, the 133-year-old photography company, has warned investors that it may not have the financing to pay around $500 million of debt obligations coming due. However, the company says it plans to use money from its pension fund to pay off a large portion of the debt before it comes due. Kodak's Chief Marketing Officer and Head of EAMER Sales, Denisse Goldbarg, has stated that the company will end the process with a stronger balance sheet than it has had in years. Kodak is confident that it will be able to pay off a significant portion of its term loan well before it becomes due and amend, extend or refinance its remaining debt and/or preferred stock obligations. The company expects to receive around $300 million in cash from the reversion and settlement of its U.S. pension fund in December, which it plans to use to fund the debt repayment.
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