The film company say it’s not out of the game yet.
Fears have swirled that Kodak, one of the last large film companies in the world, may soon be shutting its doors. Those fears were spurred by a regulatory filing released Monday, in which the company spoke of its debt load and a lack of liquidity to pay it off. However, the company has since emerged to deny that it will be shutting down anytime soon.
“Media reports that Kodak is ceasing operations, going out of business, or filing for bankruptcy are inaccurate and reflect a fundamental misunderstanding of a recent technical disclosure the Company made to the SEC in its recently filed second quarter earnings report,” the company said in a press release published Thursday. “These articles are misleading and missing critical context, and we’d like to set the record straight.”
Monday’s disclosure said that the company had “debt coming due within twelve months” and that it did not “have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms.
