Rival May Buy Bankrupt Photo Studio Chain CPI

Minnesota-based Lifetouch Portrait Studios Inc. has entered into a “stalking horse” agreement to pay $3.3 million for St. Louis-based CPI’s assets. CPI filed for bankruptcy last month after abruptly shutting its stores. Assets include photography equipment, office furniture, websites, copyrights and intellectual property. The bid deadline is June 21 and the auction is three days later.

Read more in the St. Louis Business Journal

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