Iconic 133-year-old American company warns it may not be around much longer
But its famous 'Kodak moment' is looking more like a blurry memory as the company that brought photography to the masses warns it may need to shut down.
Founded in 1892 as Kodak Eastman, it revolutionized amateur photography with inventions such as the Brownie camera in 1900.
At its peak, Kodak controlled more than 80 percent of the photographic film market and was a household name, preserving memories from birthday parties to summer vacations.
The Kodak Carousel slide projector, a staple in many middle-class American homes during the 1960s, even featured in pop culture hits like TV show Mad Men.
In the 1990s, Kodak's 65-cent disposable cameras further democratized photography across the US.
But Kodak failed to adapt when digital cameras and later smartphones changed the game.
Instead, the company has recently pivoted toward US-based chemical manufacturing and production — but now its leaders warn they're running out of money.
Kodak has been ramping up its lab businesses in an attempt to save the brand.
But, in a recent financial assessment, the company warned its financial 'conditions raise substantial doubt about the company's ability to continue.'
Kodak just reported a loss of $26 million over the last three months.
OVer the same time last year it made a profit of that amount.
The company also pointed out that it has $500 million debt it must pay off in weeks.
'Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due,' the company told the Daily Mail.
The company said it only filed the going concern letter because of US financial regulations.
Kodak's share price is down 24 percent today during mid-day trading. The stock has shed 31 percent of its value in the past six months.
Kodak's camera department failed to keep up with modern technologies, as image-capturing became increasingly digital
The company was at the center of pop culture, with a massive shout out in a famous Mad Men scene
The company's CEO, Jim Continenza, said his company is a major US manufacturer
Its CEO, Jim Continenza, said that Kodak's business struggles are not attributed to federal economic policy changes.
A majority of the company's production is US-based, allowing the camera and chemical producer to skirt most levies.
'It's important to note that Kodak is committed to US manufacturing,' Continenza said.
'Our expectation is that tariffs instituted by the US government are designed to protect American businesses like ours.'
This isn't the first time the company has found itself in financial turmoil: Kodak filed for bankruptcy in 2012 after its debts reached $6.75 billion.
Kodak is the latest nostalgia brand to report significant trouble in 2025.
Last week, Claire's, the teen-focused jewelry store with 1,500 stores across the US, filed for bankruptcy.
In April, WeightWatchers, the health and wellness company that helped millions of Americans achieve diet and fitness goals, also filed paperwork for a Chapter 11.
Joann's, the fabric and crafts chain, went bankrupt in July.
In every case, the companies faced growing competition, often from technological newcomers.
To keep their products fresh, the companies invested hundreds of millions in their previous business models.
But the inflow of cash required huge amounts of debt that became unservicable.
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