Bankrupt instant photography
Some time ago the company Polaroid made the announcement of a scheduled death (euthanasia) of instant film photography.
One of the reasons for creating this zombie in which traditional instant photography has been left is a desperate search to turn Polaroid back into a profitable and sustainable company over time. Worse it seems that things are not going very well, the company enters a technical bankruptcy (Chapter 11 of the US bankruptcy law), not completely definitive but an important previous step, either to the rescue or to the graveyard. These types of measures are taken when companies have very strong economic difficulties.
Mary L Jeffries, CEO of Polaroid, commented:
We expect to continue our operations as normal during the reorganization, and we are planning to launch new products in 2009.
We have to wait to find out what happens with this emblematic photography company and if they can work the magic of being profitable in today’s digital world.
Via Reuters | The photo above is from Yiyo (a real fan of Polaroids)