CAMBRIDGE – Concord Camera Corp., a maker of cameras for Polaroid Corp. of Cambridge, Kmart Corp. and others, said it will delay the release of its fiscal second- quarter earnings to evaluate the effect of a customer’s bankruptcy filing.(Both Polaroid and Kmart have filed for bankruptcy protection) The shares fell as much as 14 percent, Bloomberg News reported.
The customer is believed to be Kmart.
The Hollywood, Florida-based maker of digital and disposable cameras said it wouldn’t release earnings until it evaluates the effect of an undisclosed customer’s filing for bankruptcy protection.
Concord is "not at liberty to disclose" the name of the customer that filed for bankruptcy, spokesman Devin Sullivan told Bloomberg.
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Cambridge, Massachusetts-based Polaroid Corp., the largest instant photography company, filed for bankruptcy protection in October. Costs related to the bankruptcy were accounted for in Concord’s fiscal first quarter.
