Eastman Kodak, the 133-year-old photography company, has updated investors over media reports that it might not survive much longer.

 

In its latest earnings report, the company warned that it doesn’t have “committed financing or available liquidity” to pay its roughly US$500 million in upcoming debt obligations. 

 

Kodak aims to conjure up cash by ceasing payments for its retirement pension plan. It also said that it doesn’t expect tariffs to have “material impacts” on its business because it manufactures many of its products, including cameras, inks and film in the US .

 

“In the second quarter, Kodak continued to make progress against our long-term plan despite the challenges of an uncertain business environment,” Kodak CEO Jim Continenza said.

 

In a statement to CNN, a Kodak spokesperson said that it’s “confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations.”

 

The Eastman Kodak Company incorporated in 1892, but the company traces its roots back to 1879, when George Eastman obtained hist first patent for a plate-coating machine. In 1888, Eastman sold the first Kodak camera for US$25.