Ritz Camera Files For Bankruptcy

Ritz Camera, an occasional and colorful character on our blog (scam confessions! feedback bribery!) has just filed for Chapter 11 bankruptcy protection.

From This Week In Consumer Electronics:

In addition to Ritz Camera stores, the chain owns Wolf Camera, Kits Cameras, Inkleys and the Camera Shops, as well as the Boater’s World chain. The company’s lenders had ordered it to boost reserves, and the company’s boating chain had been hampered by previously rising gas prices, Ritz said in an affidavit. The chain also said it was pinched by a reduction in photo finishing revenues.

Update: A reader, Karl, writes in to point out that Ritz Interactive, the online component of Ritz, is not included in the bankruptcy and will operate as usual. On their press release they say, “We will continue to work with them as a distributor, but we source through multiple distributors, so we have other options.”

“Ritz Camera Files Ch. 11” [TWICE] (Thanks to Klay!)

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(Photo: goosmurf)

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