Latest news with #US70
The Advertiser
6 hours ago
- Business
- The Advertiser
Kodak says it is confident it can meet debt obligations
The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading.
7NEWS
10 hours ago
- Business
- 7NEWS
‘Substantial doubt' Kodak can remain in business
The almost 150-year-old Eastman Kodak Co says there is 'substantial doubt' about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares in the photography company slid more than 13 per cent in early trading on Tuesday in the United States. 'Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,' the company wrote in a regulatory filing. 'These conditions raise substantial doubt about Kodak's ability to continue as a going concern.' The Rochester, New York-based company said that it had $US155 million ($239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak chief financial officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
Perth Now
11 hours ago
- Business
- Perth Now
Kodak says 'substantial doubt' it can stay in business
The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. "These conditions raise substantial doubt about Kodak's ability to continue as a going concern." The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
The Advertiser
11 hours ago
- Business
- The Advertiser
Kodak says 'substantial doubt' it can stay in business
The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
West Australian
05-08-2025
- Business
- West Australian
HelloFresh is investing $US70 million to have AI help plan dinner
Meal kit specialists HelloFresh is employing artificial intelligence to get more customers cooking. The Berlin-based company announced on Monday a $US70 million ($108.45m) investment in its menu subscriptions. The funds will more than double the number of meals on offer and increase the range of star proteins such as beef and seafood. It will also bolster the use of AI technology to streamline decision making during ordering, even as the choices for recipes increase. The refresh is taking place for customers in the US, its biggest market; the company says it will enhance product offerings in other countries at a later date. In 2024, the group delivered over 511 million meals in North America, which also includes Canada. The investment is intended to enhance brand loyalty and bring in customers in the face of inflationary food pressures, says Assaf Ronen, HelloFresh group president in an exclusive interview with Bloomberg. While '$US70 million is a very large check,' he says, 'the more we invest in customers, the more they stay with us.' HelloFresh sees opportunity as Americans cut back on dining out amid rising food prices. The company is currently valued at around €1.5 billion; at its peak in 2021, it hit €16.7 billion as a result of the pandemic. According to a series of recent company polls, including one among 5000 customers, nine out of 10 respondents said they're planning to eat more at home in the upcoming year. And 58 per cent of respondents said they're bored with what they eat every night. To that end, a major portion of that $US70 million will be used for a broad expansion of weekly meal offerings, from 45 to more than 100. Customers will now be able to start cooking dishes like seared salmon with couscous, spiced vegetables and lemon yogurt, and eggplant caponata pitas with mozzarella. There's more premium meat cuts, including grass-fed rib-eyes and whole chicken thighs, and triple the amount of seafood will be available with no upcharge; depending on location, subscription prices might range from about $US60 for two two-serving recipes per week, including delivery, to about $US370 for six recipes for six people weekly. The cost-per-serving runs from about $US10 to $US11.50. The company is also including the option of more seasonal produce and more specialty products, like nutritional yeast and kimchi. Upcharges will be in place for options like multi-course meals and platters. Portion sizes will also generally increase, says Mr Ronen (look no further than Reddit's HelloFresh thread if you want to discuss). Some sides will increase by 50 per cent while some proteins will be 20 per cent bigger. There will also be increased customisable options for swapping out ingredients, like chicken for pork. Mr Ronen, who was vice president of the Alexa division at a decade ago, says AI technology will help customers navigate the expanded menus and prioritise selections. 'What's at the top of your list will be more relevant for you.' The more each customer orders, the more the system will Netflix-style prompt meals that reflect your preferences-for instance, recipes that take five minutes versus 50 minutes in the kitchen. Mr Ronen won't confirm how much meal prices will go up in response to these improvements, but he says when they take effect in September, they won't be relatively higher than price increases in the broader economy. 'Pricing is something we're always looking at. In some places, there is a price increase, but it's lower than the rise in inflationary food prices,' he says. Upgrades in HelloFresh's 30-plus distribution centers worldwide will also be implemented with the investment. The company will install humanoid-style robots in warehouses to speed up the meal kit packing. In the future, Mr Ronen says HelloFresh will increase its use of robotics: 'We look at this refresh as our big first step but not as a last step.' He claims that there's no plan to cut the company's workforce. But 'the more we do, the more we need robots to meet demand. It's about not needing to grow employees three times' in the future. Or, he says, 'its just going to take people longer to get their meals.' The Washington Post
