Ritz Camera Goes Bankrupt
US retailer Ritz Cameras has today filed for Chapter 11 bankruptcy protection. Chief Restructuring Officer Marc Weinsweig commented “The loss of revenues and profit margins from the diminution in the photo-finishing business proved too much of a burden, coupled with the losses experienced by the Boater’s World business in 2008.” Ritz are attempting to obtain $85 million of financing to keep operating.
Website: Ritz Camera files for Chapter 11 bankruptcy



#1 Martin Ruffe
Sad times as yet more photography outlets go to the wall. In the UK here, the major high street retailer Jessops is looking shaky and shedding stores.
8:27 pm - Wednesday, February 25, 2009