Kodak says it may cease operations
(CNN)– Eastman Kodak could soon be out of business.
The 133-year-old photography company warned investors Monday, Aug. 11, that it might not be able to survive much longer.
In its latest earnings report,Kodak said it doesn’t have “committed financing or available liquidity” to pay its roughly half-a-billion dollars in upcoming debt obligations.
The company aims to pay down debt by terminating payments for its retirement pension plan.
Meanwhile, Kodak continues to manufacture films and chemicals for businesses including the movie industry.
It also licenses its brand for a variety of consumer products.