| | Wednesday, January 4, 2012 4:05:48 PM | LOCAL BUSINESS ALERT | | | Penn Camera Exchange, which has eight locations in the Washington area, filed for Chapter 11 bankruptcy protection today. The Beltsville-based retailer is ending a 58-year run due to "a dramatic decline in sales performance during the preceding holiday period," according to a release. Five of its stores will close immediately, while the remaining stores, including ones in Rockville and Tysons Corner, will hold clearance sales.
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