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Industry: Email Alert RSS FeedPolaroid - Chapter 11 bankruptcy - Brief Article - Statistical Data Included
DSN Retailing Today, Nov 19, 2001
Polaroid filed for Chapter 11 bankruptcy protection on Oct. 12, unable to renegotiate its bank and bond debt. Although the company has received approval for $40 million in debtor-in-possession financing and $13.1 million in emergency funds, Polaroid is expected to begin selling off business units.
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On Nov. 26, the company will auction off its identification business. Its digital-printing technologies are attracting attention from a variety of manufacturers reportedly interested in acquiring all or part of its business. Polaroid recently developed the Opal and Onyx printing technologies aimed at commercial and consumer segments to help Polaroid transition from instant photography to the digital age.
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