Kodak may "shutter" its doors after reporting $26M loss

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Transcript

00:00Do you remember the phrase Kodak moment? Well, soon it might be history.

00:04Kodak, once a photography giant, just reported a $26 million loss and warned it may not be able to

00:10pay its debts by 2026. The company is now trying to reclaim $300 million from its pension fund to

00:15stay afloat. Now, if successful, it could erase most of its debt, but critics say it's a risky

00:20move that could hurt retirees. Supporters argue Kodak still has a chance to reinvent itself,

00:25but if you ask the skeptics, they'll say the company's real problems started decades ago.

00:30Kodak actually invented the first digital camera in 1975, but didn't pursue it,

00:34fearing it would threaten its film business. That decision cost them dearly. As competitors

00:38embraced digital, Kodak clung to film and missed the wave. Now Kodak's story serves as a reminder

00:44that even groundbreaking innovation must be matched by timely adaptation, and the future of legacy

00:49brands is never guaranteed. But what do you think? Does Kodak have what it takes to stay afloat?

00:53Let us know in the comments and follow us here for more.