After a somewhat poor holiday season, several retailers have felt the economic crunch of reduced consumer spending. One company was forced to file for bankruptcy this month after poor holiday sales.

The photography company issued a message on its website last week announcing the decision to file for Chapter 11 bankruptcy protection. Most of its stores will close and the rest of the merchandise will be sold online. Those stores that close will hold inventory sales while the remaining stores will also hold serious sales in the hope of bringing customers in. At this time company officials are not commenting on the bankruptcy and have instructed their employees to remain mum as well.

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