Kodak, the iconic American photography company, faces potential bankruptcy after reporting a second-quarter loss and substantial debt exceeding $470 million. The company, which revolutionized photography with its accessible cameras, is struggling despite efforts to diversify into chemicals and pharmaceuticals. Kodak's CEO attributed the financial issues not to tariffs, and the company plans to focus on its advanced materials sector and reduce costs to address its debt obligations by August 15th.

Prepared by Christopher Adams and reviewed by editorial team.