The firm is now targeting an exit from bankruptcy protection by February 28th 2013

Kodak has moved even closer to becoming an almost exclusive provider of business-to-business products and services, with the announcement of its exit from the consumer printing market.

The firm has also applied for an extension to its period of chapter 11 bankruptcy protection to  February 28th—more than a year since it first entered into it.

With reports suggesting the sale of its patent portfolio is not going as well as expected, some analysts are suggesting that Kodak may have been forced into the sale to raise funds for debt repayment.

The firm says the hardware of the consumer printing group will be rundown over the course of the course of 2013, but will continue to sell inks to that particular market.

Kodak has always maintained the business that emerged from Chapter 11 would be significantly different with a major focus on the commercial printing and packaging markets.

However, this marks the second time that it has changed its restructuring plans in recent months, after it announced the sales of its personalised and document imaging groups.

At the time, chief executive officer, Antonio M. Perez, said the firm was continuing to ‘rebalance our company toward commercial, packaging and functional printing’.

Kodak also revealed plans for an additional 1,200 job cuts as part of cost-savings the firm is making, as it seeks to re-emerge from chapter 11 early in 2013.