A local company that specializes in cameras and photography equipment is filing for bankruptcy. Beltsville-based Penn Camera filed for chapter 11 and will close five of its eight stores.
A statement on the company’s website says that a dramatic decline in sales during the holiday season forced them to make the decision.
“It has been an honor and a privilege to serve the photographic needs of this community for nearly sixty years,” Penn Camera said in the statement. “We extend our deepest gratitude to our many employees and wish for them a smooth transition.”
Five stores will be closed immediately and clearance sales will be held at the remaining three locations later this month.
Penn Camera has been a fixture in the D.C. area since 1953.