Eastman Kodak Co., the iconic Rochester-based company that once revolutionized amateur photography, is warning it may not survive much longer.

In an earnings report and SEC filing released Monday, Aug. 11, Kodak revealed there is “substantial doubt” about its ability to continue operating as it faces over $470 million in debt. The company said it lacks committed financing or liquidity to cover those obligations if they come due within the next 12 months.

Kodak’s stock tumbled following the news, which also showed the company posted a loss for the second quarter of 2025.

A Rochester legacy at risk

Founded by George Eastman in Rochester in the late 19th century, Kodak became a global giant after introducing the Kodak #1 camera in 1888 — bringing photography to everyday consumers and coin

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