CNN reported on the possible imminent closure of Kodak due to financial problems

The American company Eastman Kodak, which has existed for more than 133 years, warned investors about a possible imminent closure. This was reported on August 13 by CNN.

"Eastman Kodak, a 133-year—old photography company, warns investors that it may not last long," the publication says.

According to the TV channel, the profit and loss statement says that the company does not have guaranteed financing or available liquidity to repay its debt obligations, which amount to about $500 million. According to a statement from Eastman Kodak, such conditions raise doubts about the company's ability to continue its operations.

It is noted that Kodak is currently trying to save money by reducing payments under its pension plan. According to the company's representative, the organization is confident that it will be able to repay a significant portion of the loan long before the maturity date and affect the obligations on shares. Eastman Kodak shares fell by more than 25% in earlier trading.

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Oliver Blume, CEO of Volkswagen AG, said on May 30 that the company was in critical condition and was inferior to its competitors because production had not taken into account the dynamic development of the modern world and changing consumer desires. He cited the example of past generations who worked six days a week and "didn't ask about working hours." Now, according to the head of the company, with a 20-hour work week and remote work, it is impossible to achieve achievements.

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