Hilco and Gordon Win Polaroid Round 2

The Hilco Consumer Capital and Gordon Brothers Group joint venture has won the latest round of Polaroid's bankruptcy auction with a $72.6 million bid. The bid included $40 million of cash, a 25% stake in the company for $16.2 million and $16.4 million for Polaroid's art collection. Patriarch Partners, which had won the initial auction with a $59.1 million bid, filed objections and upped its offer to $75.5 million saying it wants to rebuild the company and keep its employees and headquarters in Minnesota.