July 9th, 2009
Ritz Camera probably won't make it through summer
Nationwide camera retailer Ritz Camera has announced they don’t have enough money to stay open for business past the end of the summer - if they even make it that far. The chain has already filed for Chapter 11 bankruptcy, closed 400 stores, and repeatedly failed to reorganize. It would seem the only option left is to liquidate their assets and auction off another 400 stores by July 24, in order to avoid paying $3 million in rent through September. Two of my local Ritz Cameras have closed: one is still an empty lot and the other is now a Chipotle. Ritz would appear to be a victim of online shopping and technology.
Did you shop at Ritz Camera? Are you sad to see it go, or do you prefer shopping online or elsewhere?
Rachel started playing with her mother's old Brownie camera when she was just a toddler, working her way up from a Hello Kitty point-and-shoot to training on both film and digital SLRs. See her full profile and disclosure of her industry affiliations.
Subscribe to Digital Cameras via Email alerts or RSS.
| 07/09/09
(nt)
