Polaroid files for Bankruptcy

by Jordan Yerman | December 19, 2008 at 07:33 am

948 views | 67 Recommendations | 19 comments

Polaroid, whose instant film is the stuff legend (and a mainstay on movie sets, much beloved by the continuity folks) is filing for Chapter 11 bankruptcy protection. This is Polaroid's second such filing in seven years.

No layoffs have been announced.

"Our operations are strong and during this process Polaroid will ship products to our retail partners, work with our suppliers and contract manufacturers to fulfill retailer demand ..." said Mary L. Jeffries, Polaroid chief executive officer.

"We expect to continue our operations as normal during the reorganization and are planning for new product launches in 2009," she said, adding that employees should receive their paychecks without interruption.

The Chapter 11 filing in Minneapolis comes 2 1/2 months after the founder of Polaroid’s parent company was arrested on fraud charges. Polaroid first sought protection from creditors in 2001 after digital cameras rendered the instant-film technology pioneered by legendary inventor Edwin Land obsolete.

As it stands, instant film is no longer made, and now costs soemthing like $40 per packet of 10. Polaroid has moved on to supply digital and printing equipment to the public, while the instant film which made the company famous is still a mainstay in the film industry.

Instant film availability projections

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon

recommend This comment thread is now closed

Jennings David L

at 07:48 on December 19th, 2008

This sounds like the precursor, or second act, for Polaroid going under. I remember how exciting it was to see that first instant print. Time change.

Paschen

at 07:48 on December 19th, 2008

I am actually surprised they still exist.

dunkelberg

at 07:58 on December 19th, 2008

Maybe the pocket printer will come to the rescue of continuity directors, but it just won't be the same.

frankieteardrop

at 08:35 on December 19th, 2008

I thought they went under 5 years ago... sheesh, props to hanging on so long. Maybe the product placement in Memento kept them going....

LotusFlower

at 08:50 on December 19th, 2008

Polaroid - great sounding word too - somehow even when they were new they had an air of 'old fashioned' about them .. but can't think exactly why... i love the old Polaroids...

Art_By_Alida

at 08:57 on December 19th, 2008

Their old instant pictures are really filled with toxins, however...I am glad I don't have many of them in my photo albums...

René

at 09:19 on December 19th, 2008

They discontinued the large format positive/negative film several years ago, victim of the digital age, I presume.

Arty Smokes

at 09:30 on December 19th, 2008

At least Fuji is still in business producing film for Type 100 packs. And PolaPremium is making available special editions of film, and refurbished cameras.

politisite

at 09:48 on December 19th, 2008

Thanks for the, 'snap shot' of whats going on. In the old days folks would say about a Bankruptcy for this company, 'what a Polaroid'.

SOLARLIFE

at 10:00 on December 19th, 2008

Jordan, a real cult object, the Polaroid, I had several models. Remember the fun with instant photo. The pocket printer, i tested, targets the game boy sized small photos, quality, hm.

Economy comment: a company to bring back into business. Redesign of pocket printer with american designed buttons, no kinky chinese switches. Many Polaroid had this feature with the one big button, even nervous, you found it, picture it, result guaranteed. Second picture size to increase to normal format, passport size does not hit the market. Now the bailout program to proof to run in valuable companies from the banks, Bank of America where are you ?

Jarrett Martineau

at 10:39 on December 19th, 2008

So sad! I'm going to have to put my Polaroid600 camera to rest. (sigh).

Ah well, at least there's Poladroid!

nicole st. john

at 10:55 on December 19th, 2008

Yeah but it's sooo not the same!

There's nothing like a real polaroid.

It's actually depressing that they're stopping film production, I mean it's like the end of an era. lol.

I'm still paying for the 10 packs, but I don't mind doing it as long as I can get my pictures. :)

Burrent

at 11:29 on December 19th, 2008

SAVE POLAROID!!
theres nothing like a polaroid shot fresh out of the sx-70 land camera.
that feeling, the colors, the self-satisfaction.
if polaroid goes under... whats Andre3000 gonna shake now?
im gonna miss it and will never forget it..

Burrent has contributed a photo to this story.

shibani dutta

at 20:45 on December 19th, 2008

shibani dutta

at 20:45 on December 19th, 2008

i just recently bought the camera and wanted a good photo of it and this is what happened as a result! :D

shibani dutta has contributed a photo to this story.

Lina_9

at 22:34 on December 19th, 2008

i just started using it and now...........
i might have to stop because i cant afford film
T-T

Lina_9 has contributed a photo to this story.

L-i-n-e

at 04:53 on December 20th, 2008

My new camera, Polaroid 690. With 2 packs of 600 film.
Good condition and great work.
Meet me in my flickr.

L-i-n-e has contributed a photo to this story.

Tierneylee

at 12:40 on December 20th, 2008

I just "inherited" my mom and sister's polaroid instant cameras.
im fortunate enough to be able to find polaroid film at walmart and walgreens; but as of january.... they arent making it anymore.
personally, for all the younger kids, and teens that havent gotten to experience the full effect of poolaroid film unlike the kids in the 90's...
it just isnt fair.

Tierneylee has contributed a photo to this story.