Polaroid Corporation ( Bankrupt ) issued September 12, 2001 - Overcome by Digital Photography

Polaroid Corporation ( Bankrupt ) issued September 12, 2001 - Overcome by Digital Photography

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Polaroid Corporation ( Bankrupt ) issued September 12, 2001 - Overcome by Digital Photography

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Beautifully engraved certificate from the Polaroid Corporation issued in 2001. This historic document was printed by the United States Banknote Company and has an ornate border around it with a vignette of two allegorical people sitting. This item has the printed signatures of the Company’s Cheif Executive Officer and Secretary. This certificate was issued on September 12, 2001 one day after the terrorist attack on the U.S. and one month before the company declared bankruptcy.
Certificate Vignette Just as the horse and buggy companies didn't adapt to the automobile, the Polaroid Corporation missed the boat on Digital Photo Storage Technology. The use of film photography is becoming the exception and the growth trend is clearly towards the less expensive digital technology. The Polaroid Corporation makes instant film and cameras (about 75% of sales), digital cameras and peripherals, conventional film, imaging equipment, and security ID-card systems. Polaroid's I-Zone instant camera (which produces thumbnail-size images) is the world's top-selling camera; its success was key in returning the company to profitability in 1999 (a condition not seen since 1994). Restructuring to focus on its instant and digital photography products, Polaroid is selling most of its noncore operations (graphics, sunglasses). The company has also begun cutting jobs to help reduce its sizable debt. About 35% of Polaroid's sales come from outside the Americas. NEW YORK October 12, 2001 - Polaroid Corp. filed for voluntary Chapter 11 bankruptcy protection in Delaware Friday, capping three days of speculation in which the instant photography company's stock had not traded. The company, which has been struggling with more than $900 million in debt, said it still is considering an outright sale of all or part of the company and that it plans to cut further staff, close facilities and sell non-core assets to reduce costs.

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  • Antiques
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