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FORUMS Marketplace & Market Info Market Watch 
Thread started 23 Feb 2009 (Monday) 09:39
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Ritz camera files for bankruptcy

 
FlyingPhotog
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Feb 23, 2009 22:32 |  #46

avarela86 wrote in post #7392814 (external link)
Hmmm...oh well. Time to go buy their clearance stuff if there's any.

As was pointed out, there may not actually be any clearance stuff. They're reorganizing, not going under...


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Feb 23, 2009 22:36 |  #47

They're closing all the small stores pretty much. I'm sure there will be some clearance but nothing big an especially not on big items, maybe the small stuff and frames.


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avarela86
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Feb 23, 2009 22:42 |  #48

FlyingPhotog wrote in post #7392842 (external link)
As was pointed out, there may not actually be any clearance stuff. They're reorganizing, not going under...

Didn't read the WHOLE thread...oh well scratch that idea.


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FlyingPhotog
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Feb 23, 2009 22:43 |  #49

avarela86 wrote in post #7392921 (external link)
Didn't read the WHOLE thread...oh well scratch that idea.

Doesn't mean there won't be "clearance items."

Just meant to say there probably won't be "fire sale" quality discounts.


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Feb 23, 2009 22:54 as a reply to  @ FlyingPhotog's post |  #50

Ritz absorbed some other photo chains in their heydey, and a couple of those were fairly decent. One was Wolf Camera, and they had decent inventories. Some of them continued to be well-stocked stores, even after the acquistion by Ritz.


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Nick5
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Feb 23, 2009 22:55 |  #51

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

Over charging is above list price. They don't overcharge. Other stores undercut to eliminate competition. No Ritz, no Circuit City, just Best Buy. No thanks.
I have two small family owned stores in my area that get 95% of my business.
I will say that the Ritz, Christiana Mall in Delaware has a good selection and very good sales staff. I hate to see any business close shop. It catches up to you and I eventually.
Help your local neighbor and economy and buy locally.
The next job you save may be yours.


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FlyingPhotog
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Feb 23, 2009 22:56 |  #52

Nick5 wrote in post #7393021 (external link)
Over charging is above list price. They don't overcharge. Other stores undercut to eliminate competition. No Ritz, no Circuit City, just Best Buy. No thanks.
I have two small family owned stores in my area that get 95% of my business.
I will say that the Ritz, Christiana Mall in Delaware has a good selection and very good sales staff. I hate to see any business close shop. It catches up to you and I eventually.
Help your local neighbor and economy and buy locally.
The next job you save may be yours.

QFT...

My two closest B&M stores are a bit "pricey" but they've saved my *ss a couple of times because I needed it NOW...


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TheHoff
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Feb 23, 2009 22:57 |  #53

Nick5 wrote in post #7393021 (external link)
Over charging is above list price. They don't overcharge. Other stores undercut to eliminate competition. No Ritz, no Circuit City, just Best Buy. No thanks.
I have two small family owned stores in my area that get 95% of my business.
I will say that the Ritz, Christiana Mall in Delaware has a good selection and very good sales staff. I hate to see any business close shop. It catches up to you and I eventually.
Help your local neighbor and economy and buy locally.
The next job you save may be yours.

So you're OK with Ritz, a national chain that expanded and absorbed smaller stores, but then you say to support your local neighbors? I'm not sure how arguing to support Ritz supports anything local.

And I like shopping locally, when the price isn't so far off, as I like dealing in person with a good sales staff (Leo's, Vancouver).


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Feb 23, 2009 22:58 |  #54

Nick5 wrote in post #7393021 (external link)
I hate to see any business close shop. It catches up to you and I eventually.

Good point. The local Ritz, while generally inadequate as a resource for serious hobbyists, does have a lot of the basics (filters, batteries, etc.), and they're open on weekends. The local camera shop is not.


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Nick5
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Feb 23, 2009 23:14 |  #55

TheHoff wrote in post #7393039 (external link)
So you're OK with Ritz, a national chain that expanded and absorbed smaller stores, but then you say to support your local neighbors? I'm not sure how arguing to support Ritz supports anything local.

And I like shopping locally, when the price isn't so far off, as I like dealing in person with a good sales staff (Leo's, Vancouver).

While they absorbed many shops over the years, they still employ local people, photographers to work their locations. They pay rent, taxes to your local economy. So yes it does support locally. Like I did say earlier, I buy over 90% of my photography equipment from two of my local Mom and Pops.
Being a small business owner for over thirty years, I appreciate the service, inventory and the extra attention I receive being a good loyal customer. It works both ways.
They know and I know I can buy online. I guess I'm old school.


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michaelnel
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Feb 24, 2009 06:47 |  #56

Ritz Camera Going Bankrupt

Couldn't happen to a nicer bunch of folks:

http://www.businesswee​k.com …nancialnews/D96​HEULG0.htm (external link)


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Feb 24, 2009 09:28 |  #57

It's never good to have the competition reduced (it usually results in price hikes at the remaining stores), but I can't say I'm shocked by the Ritz news. Saturday, I went to the local Wolf Camera for an ND filter (fully knowing they didn't carry lenses, but they did have some filters) for my new Vivitar. I had seen 72mm filters (CPLs and UVs at least), but they had no filter of any kind in 72mm size and it looked like their little filter display was almost empty. I guess this might be affecting their resupply of such pieces, as they have slowly evolved into a shop that stays alive on printing services. It's sad to see the one shop that's almost in walking distance slowly fade into virtual non-existence. :(


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londonandlawson
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Feb 24, 2009 12:16 |  #58
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Ritz Camera/Wolf Camera Files Chapter 11

By Greg Scoblete -- TWICE, 2/23/2009 12:07:00 PM
Wilmington, Del. — Just days before the opening of the PMA trade show, the country’s largest specialty camera chain, Ritz Camera, filed for Chapter 11 bankruptcy protection.

Ritz said it has between $100 million and $500 million of both assets and liabilities in a filing made here, according to reports,

In addition to Ritz Camera stores, the chain owns Wolf Camera, Kits Cameras, Inkleys and the Camera Shops, as well as the Boater’s World chain. The company’s lenders had ordered it to boost reserves, and the company’s boating chain had been hampered by previously rising gas prices, Ritz said in an affidavit. The chain also said it was pinched by a reduction in photo finishing revenues.

Ritz said it will seek court permission to obtain $85 million of financing to keep operating while it restructures.

Ritz Interactive, an e-commerce firm that licenses the Ritz name, has not been impacted by the filing, a spokesman said. “We will continue to work with them as a distributor, but we source through multiple distributors, so we have other options.”

Ritz Cameras was ranked No. 28 in TWICE’s Top 100 Retailers of 2008, with 1,100 stores and $580 million in sales last year.

http://www.twice.com …&source=title&r​id=5691061 (external link)


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Feb 24, 2009 12:24 |  #59

FlyingPhotog wrote in post #7392931 (external link)
Doesn't mean there won't be "clearance items."

Just meant to say there probably won't be "fire sale" quality discounts.

Yeah, you'll be able to pay only 20% above any other retailer instead of the normal 40%.

Ritz is/was a rip off with lousy business practices. It sucks to see another corporation circling the bowl, but this one surely won't generate too many tears.




  
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deejoshy
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Feb 24, 2009 13:06 |  #60

Ritz Camera Goes Bankrupt

Good riddance:

http://www.washingtonp​ost.com …2/23/AR20090223​02669.html (external link)

All I remember are dumpy stores and lousy service from this horrible chain. It always felt dishonest in one of those places. Hopefully, other untrustworthy places like Best Buy and all the other, ugly, suburban big box stores will disappear, too. It would be nice to have the smaller, local camera stores again, like we used to, before these weird, community destroying, corporate outsiders swooped down and destroyed the formerly pleasant shopping experience of yesterday.




  
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