Inside Imaging: Kodak Alaris gets additional funding

GaryPageau

Australian photo/imaging trade news site Inside Imaging has kept on top of the ongoing financial saga of Kodak Alaris. In a post this week, the site notes the financially troubled Eastman Kodak Co. spinoff, now owned by a U.K. pension fund, has been underperforming for years. Now primarily composed of the Kodak Moments photography business and the Alaris document business, the company was extended an existing US$50 million line of credit through to 2025.

Despite earlier concerns from auditor KPMG being “clearly concerned about the ‘going concern’ status of the group,” the article said, the pension fund committed to the US$50 million funding through to 2025.

“Kodak Alaris made a loss in both 2021 (US$39 million) and 2022 (US$17 million), and its cash position dropped from US$79 million to US$71 million,” the article said. “It had net liabilities of US$8 million in 2021 and US$25 million in 2022.”

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.