Kodak on the Brink: A Century-Old Giant Faces Potential Collapse

Eastman Kodak, the company that revolutionized amateur photography, is teetering on the brink of collapse after more than 130 years. Facing over $470 million in debt and dwindling revenue, the company has expressed substantial doubt about its ability to continue operations. Despite attempts to diversify into specialty chemicals and pharmaceuticals following its 2012 bankruptcy, Kodak is struggling to stay afloat. The company is cutting costs, including its pension plan, in a desperate attempt to meet its debt obligations by August 15th. Kodak's precarious situation serves as a cautionary tale about the challenges of adapting to technological change.