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Eastman Kodak, the 133-year-old photography giant, is facing potential bankruptcy. The company's earnings report revealed insufficient liquidity to cover its $500 million debt. Kodak is attempting to raise cash by halting retirement pension payments. Despite past success and a brief resurgence in 2020, the company's stock plummeted over 7% in premarket trading following the announcement. Kodak's failure to capitalize on digital photography earlier contributed to its current financial struggles.

Prepared by Christopher Adams and reviewed by editorial team.