Polaroid Corp. has today filed for Chapter 11 Bankruptcy Protection (according to Fox News). This has been on the cards for several days, it now seems to have finally happened. Polaroid's last recorded share value was 28 cents compared to a 10 year high of $60.31 back in July 1997. According to Reuters Polaroid owes almost $1 billion in total ($600 million to bond holders, $350 million to two groups of banks).