Kodak was once a household name, synonymous with capturing life’s precious moments. Its famous slogan, the “Kodak moment,” became part of everyday language.
But today, that clear snapshot of success is starting to fade, as the company behind this legendary brand warns it might not survive much longer.
From Photography Pioneer to Struggling Company
Founded back in 1892 as Kodak Eastman, the company revolutionized photography for everyday Americans.
Their Brownie camera, launched in 1900, made snapping pictures simple and affordable, bringing photography to the masses.
At one point, Kodak controlled over 80 percent of the photographic film market and was a staple in homes across the country.
The Kodak Carousel slide projector was a fixture in many living rooms during the 1960s, even making appearances on popular TV shows like Mad Men.
In the 1990s, their 65-cent disposable cameras further helped democratize photography for people everywhere.
The Digital Disruption Kodak Couldn’t Avoid
But when digital cameras and smartphones came onto the scene, Kodak struggled to keep up.
Instead of leading the digital revolution, the company shifted focus toward chemical manufacturing in the US — a pivot aimed at survival, but one that’s now putting them in financial danger.
Recently, Kodak warned investors that its financial situation is shaky, with doubts about the company’s ability to keep going.
Their latest report shows a $26 million loss in the last three months, a stark contrast to making the same amount in profit during the previous year.
Mounting Debt and Stock Market Struggles
Adding to the pressure, Kodak faces $500 million in debt coming due within weeks.
Though the company insists it’s confident it can pay off a significant portion of that debt early, the filing of a “going concern” letter is required by US financial regulations — not necessarily a sign of impending doom, but definitely a red flag for investors.
Kodak’s stock has taken a hit, dropping 24 percent during midday trading and losing nearly a third of its value over the last six months.
CEO Jim Continenza emphasized that these struggles aren’t due to changes in US economic policy.
Most of Kodak’s production remains stateside, which helps the company avoid many tariffs.
“Kodak is committed to US manufacturing,” Continenza said, adding that government tariffs aim to protect American businesses like theirs.
A History of Financial Challenges
This isn’t the first time Kodak has faced financial hardship.
Back in 2012, the company filed for bankruptcy after debts ballooned to $6.75 billion.
Kodak is now part of a growing list of once-iconic brands facing tough times in 2025.
Nostalgia Brands Fighting to Stay Afloat
Just last week, Claire’s — the teen jewelry retailer with over 1,500 stores across the US — also filed for bankruptcy.
Earlier in the year, WeightWatchers, known for helping millions with diet and fitness, entered Chapter 11. And in July, craft giant Joann’s followed suit.
In all cases, these companies have struggled to keep up with changing markets and fierce competition, often from newer, tech-driven businesses.
To stay relevant, they poured hundreds of millions into their existing business models, but the debt from those investments became unsustainable.