Wednesday, February 07, 2007Home

Wal-Mart Closes 500 Photography Studios

Ouch. It looks like you can't get just anything at Wal-Mart after all. I suppose it makes more sense for them to sell cheap digital cameras so that there's even less of a reason for people to leave the house, even for Wal-Mart. Better to get a chunk of change up front. Portrait studios are another of those old stand-by's, like butchers and bakeries, that don't fit into the chain's great formula for maximum profit.

From AP's article:

The 500 portrait studios, which lost $1.7 million in 2006, are a "drain" on the company, PCA said in court papers filed Friday...

Portrait Corp. of America and eight affiliates filed for Chapter 11 protection on Aug. 31, 2006, listing assets of $153 million and debts of $372.1 million.

Is it me, or is anyone else reminded of The Borg?


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