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Thread started 23 Feb 2009 (Monday) 09:39
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Ritz camera files for bankruptcy

 
_aravena
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Feb 23, 2009 19:34 as a reply to  @ post 7387979 |  #31

Mine closed down randomly. They were preparing obviously. Darn, I'm sad because I can't take advantage of their clearances now.


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Aaagogo
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Feb 23, 2009 19:55 |  #32

the interesting thing is that they owe Nikon more money than they do Canon.

That's a total of like 35 million between the 2 main companies, I'm sure no matter what, Canon and Nikon will feel the effect a litte.

We're slowly begin to see more and more of the ripple effect of the bad economy.


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musicmaster
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Feb 23, 2009 20:01 |  #33

Aaagogo wrote in post #7391566 (external link)
the interesting thing is that they owe Nikon more money than they do Canon.

That's a total of like 35 million between the 2 main companies, I'm sure no matter what, Canon and Nikon will feel the effect a litte.

We're slowly begin to see more and more of the ripple effect of the bad economy.

The problem is they overcharge. Why people bought stuff there instead of bestbuy (even they are cheaper!!)


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Feb 23, 2009 20:19 |  #34

Aaagogo wrote in post #7391566 (external link)
the interesting thing is that they owe Nikon more money than they do Canon.

That's a total of like 35 million between the 2 main companies, I'm sure no matter what, Canon and Nikon will feel the effect a litte.

We're slowly begin to see more and more of the ripple effect of the bad economy.

My guess is that they made more on Nikon gear, so they pushed it harder. I'll bet they sold tons of D40's before Canon came out with the XS.


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Feb 23, 2009 20:20 |  #35

musicmaster wrote in post #7391618 (external link)
The problem is they overcharge. Why people bought stuff there instead of bestbuy (even they are cheaper!!)

I imagine many thought they'd get more expertise at Ritz Camera than at Best Buy Electronics. After all, they're specialists.


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Aaagogo
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Feb 23, 2009 20:29 |  #36

human contact / interactions when making big decision purchases is why people prefer to go into shops, most of the time, regardless of price, IMHO

while a huge majority of the people still has limited knowledge for using the internet, not to mention forums and other stuff, it's the interpersonal factor that comes into play.

I believe that, well, that believe is based on talking to the people I know, most people still believe that shops like Bestbuy or Ritz have a better price than online, either they don't know how to do research, or never do research, I don't know.

A case in point, I have a buddy who was interested in getting into photography and he came to me for advice and what not. He bought an almost simliar setup to what I have, 2 gripped 40D's, 24-70, 70-200, 50mm and 10-22. I priced it out for him on B&H, along with the then on-going rebates and the coupon codes from B&H, but he still ended up going into the local store and paid full price (msrp) minus the rebates, and they actually sold him a 3rd party flash that was priced at a higher price than a B&H 580ex. Sold him 2 1GB sandisk ultra II CF cards, but they did give him a lumiquest pocket bouncer for free, but they sold him on a weird looking bracket to mount his flash away from the hotshoe. On top of that, it took them almost 4 weeks to get him his 70-200 cause they don't have it in stock, and 3 weeks to get the 10-22. Also they told him to get the 50 1.8 instead of the 50 1.4 Basically, he was ripped off, I look at his receipt, priced it out on b&h and he overpaid by almost 1 grand. I was disappointed that he went for the local shop route, seeing that he overpaid that much, and before he made his purchase, I let him hold on to my gear to play around with for a week.

Anyway, back to the money Ritz owes Canon & Nikon, I think it's the retail money that they owe for the gear they have selling in the shop and inventory.


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Feb 23, 2009 21:11 |  #37

The Ritz in our area really suck, the service wasn't that great, and the prices was very overprice, I thought they would be out of business long along. You have to wonder why a place like Radio Shack is still around. That's another one.


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_aravena
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Feb 23, 2009 21:26 |  #38

DDCSD wrote in post #7391746 (external link)
My guess is that they made more on Nikon gear, so they pushed it harder. I'll bet they sold tons of D40's before Canon came out with the XS.

It gave a better commission that's for sure. Ritz had no special training unless someone there knew something. It's pathetic but yeah, they are really expensive. I remember I could look for refurbished stuff and a refurbished 70-200 F2.8 IS was more than a new one at B&H. :lol:


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Feb 23, 2009 21:26 as a reply to  @ RLJSlick's post |  #39

Clearly their business plan was based on film processing/printing. They tried valiantly to adapt, but the reality is, there just wasn't enough of the kind of business they were created for. Add to that the high prices, poorly trained staff, inconvenient (and expensive) mall locations, it was a lost cause.

As others have already stated, I wonder how they hung on as long as they did.


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Feb 23, 2009 21:30 |  #40

I wonder more about Radio Shack as someone mentioned but I will miss their printing. They were close and printed up to 20x30...I think bigger? Can't recall. Anyhow, it sucks for that and now I only have online ordering because everywhere else sucks. Walgreens is ok.

Oh, Kodak maybe having trouble though. At my Target the printing center closed up. Stupid anyhow. They only allowed 4x6 prints by themselves. THe 5x7 and 8x10's had to come with wallets and other stuff for more money.


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Feb 23, 2009 21:35 |  #41

I feel that people greatly underestimate the importance of a brick and mortar camera store. Yes, they have to pay the rent, so the prices won't be as low as a B&H. However, being able to hold the item you are about to purchase is a (seemingly) greatly overlooked value of a brick and mortar.

I work for one of the largest (2nd largest behind Ritz, before some downsizing late last year) camera retail chains in the US, and it's hard for the brick and mortar stores to compete with the internet. Often, when people do some homework and find pricing from B&H or similar places, the price I have to match to make the sale is the cost of the item. That's tough to do no matter who you are.

I've never shopped at Ritz, but the few times I was in (before I was as into photography as I am now), I was treated well. I know there are some people who will jump in and give their horror stories, but everyone comes to the warm, soothing anonymity of the Internet to voice their distaste. Having Ritz (and many other local camera retailers) in trouble like this is a scary thing for photographers - no last minute equipment pickup; no place to get hands on, try-before-you-buy experience.


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Feb 23, 2009 21:36 |  #42

I found it funny the one time I visited a Ritz the guy kept telling me the camera and not the lens that took the print he showed me. In addition to when talking about gear he kept listening their price, which at times, was about 40% more than the internetz.


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bjyoder
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Feb 23, 2009 21:38 |  #43

belmondo wrote in post #7392270 (external link)
Clearly their business plan was based on film processing/printing. They tried valiantly to adapt, but the reality is, there just wasn't enough of the kind of business they were created for. Add to that the high prices, poorly trained staff, inconvenient (and expensive) mall locations, it was a lost cause.

As others have already stated, I wonder how they hung on as long as they did.

The lack of people printing digital pictures has a huge impact. The company I work for has had a flip in business - it used to be 80% Processing, 20% Equipment sales. It is approximately reversed now, and no one but the camera companies make money on cameras.


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Feb 23, 2009 22:18 |  #44

belmondo wrote in post #7392270 (external link)
Clearly their business plan was based on film processing/printing. They tried valiantly to adapt, but the reality is, there just wasn't enough of the kind of business they were created for. Add to that the high prices, poorly trained staff, inconvenient (and expensive) mall locations, it was a lost cause.

As others have already stated, I wonder how they hung on as long as they did.

Now out by me in AZ, the two closest Ritz are (Grade A) strip mall locations with an acceptable selection of basics. Simple strobes, constant lights and umbrellas. A good selection of 4x6 to 8x10 frames and their printing/enlarging services are actually pretty good.

They also both have a pretty good selection of Quantaray-branded "gadgets." IIRC, they also had an ok selection of bags too.


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Feb 23, 2009 22:28 |  #45

Hmmm...oh well. Time to go buy their clearance stuff if there's any.


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Ritz camera files for bankruptcy
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