CVS Photo Printing, the largest and most profitable chain of photo printing outlets, has closed its doors after nearly a decade in business.
The company has been losing money, but the closing of its doors comes at a time when the economy is still struggling.
CVS, which has about 3,400 stores in North America, said Monday it is shutting down a second printing facility in South Carolina that will create more than 500 jobs.
“The impact of the closing will be felt in the communities of the two states,” CVS CEO Mark Johnson said in a statement.
Johnson said the company had been struggling to make enough money to continue printing and selling its products.
CVC had about $1.7 billion in revenue last year.
Johnson noted that the company would continue to sell its products in a variety of ways, including via online and offline distribution channels.
“This decision is a positive one for our customers and our employees,” Johnson said.
The closures of CVS and the South Carolina facility are the latest in a series of closures of photo print shops.
In April, the chain announced it would close two locations in the U.K. The announcement came a day after a similar closure in the Netherlands.
The U.S. also is considering shutting down some of its largest photo printing businesses.
On Monday, Sears Holdings Corp., which owns Sears, Kmart and Kmart Thrift stores, said it would cut more than 4,000 jobs in North and South Carolina, and in Arizona and California.