El Paso
67° F
Clear
Clear

CPI abruptly closes its US portrait studios including inside Walmart, Sears

Published On: Apr 05 2013 04:59:09 PM CDT
Updated On: Apr 05 2013 06:17:14 PM CDT
ST. LOUIS -

A financially troubled St. Louis-based company is abruptly shuttering its more than 2,000 portrait studios that are found nationwide in locations such as Walmart and Sears stores.
    
CPI Corp. said in a two-paragraph statement on its website that it's saddened by the announcement and that it is trying to fulfill as many customer orders as possible. It urges customers with questions to contact their local store.
    
The Associated Press left messages with CPI seeking comment early Friday.
    
CPI has struggled in recent years as the popularity of digital photography cut into its sales.
    
The company last month announced in a federal securities filing that it has received a fourth forbearance agreement from its lenders, and that it had until Saturday to meet its loan obligations.

Comments

The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms Of Service and the comment you are posting is in compliance with such terms. 
blog comments powered by Disqus