BUSINESS BRIEFING / COURTS

Polaroid Corp., the twice-bankrupt pioneer of instant photography, failed to win court approval of a $56.3-million sale of most of its assets and a judge reopened the auction, according to two of the bidders and a creditor.

U.S. Bankruptcy Judge Gregory Kishel issued the decision in St. Paul, Minn., where Polaroid sought approval to sell itself to a joint-venture of two liquidation firms, Hilco Consumer Capital of Toronto and Gordon Brothers Brands of Boston, Hilco said.