Two big businesses, a budget airline and a former photography great, are warning that they could shut their doors for good. The two well-known companies have warned in regulatory filings that they may not be long for this world.
Discount carrier Spirit Airlines, just months after emerging from bankruptcy, says that weak domestic demand and dwindling cash reserves make its future uncertain.
Spirit’s likely going to get through this, but it will possibly be acquired by a larger rival.
A cloudier future awaits Eastman Kodak, the company that once owned the market for camera film.
Now the 133-year-old Kodak is telling investors that it is saddled with up to half a billion dollars in debt and has no idea how it’s going to keep its creditors at bay.
Kodak is a classic example of a best-of-breed business being elbowed into obscurity by changing technology. Simply put, Kodak tried but failed to transition to digital photography, and now, well, it has very little to offer Shutterbugs.
Kodak’s misfortune serves as a cautionary tale for investors who might now be pursuing AI or crypto riches.
Look at it like this: one day, Paul Simon is singing about how cool you are, and the next day, you’re roadkill.
