Hilco / Gordon Brothers acquires Polaroid brand, assets and dignity
After filing for Chapter 11 bankruptcy (again) in December of last year, Polaroid may have just made its last shakeable memory. Today, the Federal Bankruptcy court for the district of Minnesota has approved a motion for "substantially all the assets of Polaroid, including the Polaroid brand, intellectual property, inventory and other assets," to be acquired by Hilco Consumer Capital and Gordon Brothers Brands. If those names sound familiar, have a cookie on us. You see, this very same joint venture picked up The Sharper Image around this time last year, and while it's still unclear what these suits plan to do with the 72 year-old name, we are told that it doesn't plan on shelving it anytime soon. In fact, it's hoping to "partner with a number of global institutions in the ongoing development of the Polaroid brand." Personally, we would've used "revival" rather than "development," but we'll refrain from bursting any bubbles here.
