Ritz Camera seeks bankruptcy protection at DVinfo.net
DV Info Net

Go Back   DV Info Net > The DV Info Network > Digital Video Industry News

Digital Video Industry News
Events, press releases, bulletins and dispatches from the DV world at large.

Reply
 
Thread Tools Search this Thread
Old February 23rd, 2009, 02:12 PM   #1
Major Player
 
Join Date: Dec 2008
Location: Woburn, MA
Posts: 205
Ritz Camera seeks bankruptcy protection

While of marginal interest to this forum:

Quote:
The list of its top 30 unsecured creditors is led by Nikon Inc. and Canon USA Inc., which are owed a combined $40 million in trade debt.


Ritz Camera seeks bankruptcy protection - BusinessWeek
Michael Murie is offline   Reply With Quote
Old February 23rd, 2009, 02:55 PM   #2
Major Player
 
Join Date: Sep 2006
Location: Virginia Beach, VA
Posts: 656
While I didn't like Ritz Camera, I hate to see another brick & mortar go.
__________________
Panasonic HMC150/Canon A1/JVC HD1/Sony Vegas 8.0c
Jeff Kellam is offline   Reply With Quote
Old February 23rd, 2009, 06:24 PM   #3
Inner Circle
 
Join Date: Jun 2003
Location: San Jose, CA
Posts: 2,222
Quote:
Originally Posted by Jeff Kellam View Post
While I didn't like Ritz Camera, I hate to see another brick & mortar go.
One year-end of lower retail sales and they pop? That's not really a business.
Gints Klimanis is offline   Reply With Quote
Old February 23rd, 2009, 08:35 PM   #4
Inner Circle
 
Join Date: Feb 2007
Location: Apple Valley CA
Posts: 4,874
Well, it IS chapter 11, so they are attempting to reorganize/renegotiate their debt, we already know how that worked out for "the City"...

And in the current world economy, this is no big surprise - credit has dried up, and if you've run on rotating credit as most businesses have, the "music has stopped". Almost every business (and probably more individuals than we'd like to think about) are just a minor setback away from the same place, seeking Court protection... and many businesses will probably have to liquidate entirely before this is all over.

I'd imagine that their "boat" division dried up, possibly entirely, and then you add in the rest of the economic mess unfolding before our eyes, and this will probably be a common headline/story this year.
Dave Blackhurst is offline   Reply With Quote
Old March 2nd, 2009, 02:59 PM   #5
MPS Digital Studios
 
Join Date: Apr 2003
Location: Palm Beach County, Florida
Posts: 8,531
From what I understand, ritzcamera.com is a separate entity (part of Ritz Interactive), and is doing well.

RitzCamera.com is NOT Filing Bankruptcy Photography Bay | Digital Camera Reviews, News and Resources

I guess online business IS doing great. It beats driving to the store and fighting crowds, plus getting discounts.

Heath
__________________
My Final Cut Pro X blog
Heath McKnight is offline   Reply
Reply

DV Info Net refers all where-to-buy and where-to-rent questions exclusively to these trusted full line dealers and rental houses...

B&H Photo Video
(866) 521-7381
New York, NY USA

Scan Computers Int. Ltd.
+44 0871-472-4747
Bolton, Lancashire UK


DV Info Net also encourages you to support local businesses and buy from an authorized dealer in your neighborhood.
  You are here: DV Info Net > The DV Info Network > Digital Video Industry News

Thread Tools Search this Thread
Search this Thread:

Advanced Search

 



All times are GMT -6. The time now is 12:24 PM.


DV Info Net -- Real Names, Real People, Real Info!
1998-2024 The Digital Video Information Network