Ritz Camera ne Wolf Photo ne Boater’s World ne Ritz Interactive has filed for Chapter 11 Bankruptcy restructuring:

…Ritz Camera Centers Inc., the largest camera-store chain in the U.S., won court approval for $85 million in financing from its existing secured lenders while it reorganizes.

U.S. Bankruptcy Judge Mary Walrath in Wilmington, Del., authorized the so-called debtor-in-possession financing on an interim basis….

But have received $85 in financing to help it remain a going concern.

It’s really hard for me to cry for them- I first encountered them when they bought up the best mom and pop camera store in my area 10 years ago and their product range went from good to amateur. Then I moved to a different stat- where they soon bought out the best pro shop in the area and the second best pro shop.

Then I started to buy everything from B&H Photo Video.

The last time I walked into a Ritz was about a year ago to buy a D3- they had no waiting list and wouldn’t take my name, but one of the employees said that they had 2 on order for him so that he could turn around and sell them as soon as they came in.

I had a similarily unpleasant situation with RitzCamera.com.

We don’t need these guys.

Tags: economy

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