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Polaroid Sold on the Auction Block
Probable new owners Patriarch Partners LLC control 20 other companies.
Written by Terri Stone on April 7, 2009
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Polaroid, which filed for bankruptcy late last year, has been auctioned off to private-equity firm Patriarch Partners LLC for $59.1 million.
Lynn Tilton, CEO of Patriarch, stated, “We look forward to reconnecting Polaroid with its history of innovation in photography. We intend to continue rebuilding the brand of this great American company on a worldwide scale and to re-establish Polaroid as a globally acknowledged innovator.”
Patriarch’s offer for assets includes most of Polaroid’s intellectual-property rights. Before it can go through, the deal must be approved by a judge.












Can they recover?
I have watched Polaroid just fall apart for years. They were slow to adopt digital and then even slower to appeal to younger generations. Too bad. It was once a great brand.