We have some bad news for all you Polaroid lovers. The company is not going to make it anymore in this fancy digital technology world so it decided to go for bankruptcy. The company will discontinue its instant film and after filing for Chapter 11 bankruptcy and restructuring they might be still launching a new product in 2009. Here’s what Mary L. Jeffries, Polaroid chief executive officer had to say about it:

Our operations are strong and during this process Polaroid will ship products to our retail partners, work with our suppliers and contract manufacturers to fulfill retailer demand. We expect to continue our operations as normal during the reorganization and are planning for new product launches in 2009.

Well I sure hope Polaroid has something big in the works for next year or else they’re not going to make it.