Printed from http://www.electronista.com

Joint venture buys struggling Polaroid

updated 04:15 pm EDT, Fri April 17, 2009

Hilco, Gordon buy Polaroid

A joint venture led by Gordon Brothers Brands and Hilco Consumer Capital, along with private equity fund Knight's Bridge Capital Partners and other investors, was approved by a Minnesota Federal Bankruptcy court to acquire all assets of the Polaroid brand. In a Thursday announcement from the joint venture, which also recently purchased The Sharper Image, Linens 'N Things and Bombay, the companies promise to develop a full-scale global licensing and marketing strategy for wholesale, direct-to-retail and e-commerce business to make Polaroid competitive again.

"Polaroid is an iconic brand known globally for their technical innovation and high-quality products that deliver on its reputation of ease-of-use," said Gordon Bros co-president Stephen Miller of the 72-year-old brand.

Polaroid first launched polarized sunglasses before developing and successfully marketing instant film, cameras and related accessories and then going onto releasing flat panel TVs, portable DVD players, digital photo frames, HD camcorders and waterproof digital cameras, among other products. More recently, it released the Polaroid PoGo camera with a built-in printer, continuing its legacy of providing instant photos.

The company filed for bankruptcy in December, though, and was auctioned off, with Patriarch Partners seemingly posting the winning bid. The auction was opened up again, however, when Polaroid creditors complained that the bidding was flawed and a judge allowed the top two bidders to make another offer.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Cat B100

Cat is primarily known for its heavy-duty machinery used in the construction industry and farming, among other areas. What may not be ...

Linksys EA6900 AC Router

As 802.11ac networking begins to makes its way into more and more devices, you may find yourself considering an upgrade for your home ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Sponsor

toggle

Most Commented

 
toggle

Popular News