Polaroid

About Polaroid

Polaroid filed for Chapter 11 bankruptcy in October 2001. The instant photography pioneer had 13.4 billion in assets. Polaroid failed to transition to digital photography despite having relevant technology. The company was burdened by debt from a leveraged buyout and accounting irregularities. Polaroid emerged from bankruptcy in 2005 but filed again in 2008. The Polaroid brand was sold multiple times. The OneStep camera was relaunched in 2018 by Polaroid Originals, a company using old Polaroid factory equipment. Polaroids bankruptcy illustrates how a company with strong technology and brand recognition can fail through strategic missteps. The Polaroid instant camera is one of the most iconic products of the 20th century, making its downfall particularly dramatic.