The $31 Billion Fall: How One Mistake Bankrupted Kodak

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00:00The $31 billion fall, how one mistake bankrupted Kodak?

00:05Kodak warned of survival doubts over $500 million debt in August 2025,

00:11sparking bankruptcy reports, but later called them inaccurate and misleading.

00:18Kodak says its SEC filing was misread, denies bankruptcy plans, and insists debt will be managed.

00:25With stable ops and lower cash use, management remains confident.

00:30Kodak plans to end its pension fund, freeing $500 million by December 2025.

00:39$300 million will reduce debt significantly, leaving just $177 million to manage later.

00:49Kodak swung from $25 million profit to $26 million loss, burned $46 million cash, and shares fell 25%.

00:59Survival hinges on pension reversion and debt restructuring, which need outside approval.

01:07Kodak gained a small boost from the analog revival as film demand returned.

01:12But like the wider printing industry, it still faces weak sales and cautious customers holding back big buys.

01:18Kodak engineer Stephen Sasson built the first digital camera in 1975, but executives dismissed it, fearing it would hurt film sales,

01:30an oversight that later fueled the company's decline.

01:33Kodak's decline accelerated under CEO Antonio Perez, who cut film operations, sold assets, and laid off thousands.

01:45Crushed by a $6.75 billion debt, the company filed for bankruptcy in 2012.

01:50Kodak exited bankruptcy in 2013, shifting to digital printing, chemicals, and motion picture film.

02:01Now it's building an FDA-registered pharma facility and targeting EV battery coding tech for growth.

02:10Stephen Sasson now warns businesses not to repeat Kodak's mistake, noting how success can blind firms to disruption.

02:16Once a symbol of memories, Kodak Moment now cautions against ignoring change.