Tuesday, July 24, 2012

Industry News: Decelerating

Ritz Camera & Image filed for Chapter 11 bankruptcy protection Friday, less than three years after emerging from its first bankruptcy. As a part of the restructuring, the company, with 265 stores in 34 states, plans to close 128 locations and cut its staff of 2,000 in half...J.C. Penney Co. is eliminating approximately 350 positions at its headquarters in Plano, Texas, completing a reorganization of its corporate office designed to create a leaner and more simplified operating structure.The follow the company’s move in April to eliminate 600 workers at its headquarters.

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