The news only gets worse from there as the company also announced that it would be asking Federal bankruptcy court for more time to put together a Chapter 11 bankruptcy reorganization plan. Plans like this would spell out how a reorganized company will operate after bankruptcy and the steps that company will take in order to make creditors as whole as possible.
Kodak has made a plethora of big changes ever since filing for bankruptcy back in January in attempts to raise money and cut costs. These measures have included shutting down its digital camera business and selling its online Kodak Gallery operations. Kodak currently has a few other businesses that are also up for sale, including document scanners and still camera film.
Kodak has talked about profits in desktop inkjet printers for a while now, with the company stating that the main profits are found in consumables like the ink itself. According to a recent statement from the company, getting out of the printer business "will significantly improve cash flow in the U.S. beginning in the first half of 2013."