Breakdown of the Petters Empire - KMSP-TV

Breakdown of the Petters Empire


Now that the Tom Petters saga seems to be over, many people are wondering what happened to those big named companies that were apart of his empire.

Polaroid was the first big Petters company name to be sold nearly a year ago for $88 million.
And now, still based in Minnetonka, they're hoping to make the name a big player again.

Recently, they signed Lady Gaga to help design and market cameras that'll be out later this year.

Sun Country Airlines filed a motion this week to begin emerging from bankruptcy. Its ownership still controlled by the court-appointed receiver. But the company posted a profit in 2009 and is attracting buyers.

Bluestem is the new corporate name of Fingerhut.
The Eden Prairie based company still sells under the Fingerhut name online and is doing OK.

The 18 percent owned by Petters is also still under control of the receiver, who'll sell that stock when its price rises.

As for Polaroid, they're embracing their instant picture roots by bringing back the classic Polaroid this year for a huge legion of fans.


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