Ritz Camera May Live On

It looks like the story isn’t entirely over for Ritz Camera, which filed for bankruptcy and seemed near liquidation. A firm called RCI Acquisition has stepped in and agreed to purchase and operate 163 of its 375 remaining stores.

RCI is led by David Ritz, CEO of the retail company, as loyal reader James pointed out to us yesterday. But based on some of your other comments, it doesn’t seem like this fix will keep Ritz going long term.


4 Responses to “Ritz Camera May Live On”

  1. 1 Ken Simons July 23, 2009 at 10:55 am

    This story makes me “shutter”…the old smoke and mirror bankruptcy.

  2. 2 James July 24, 2009 at 7:35 am

    Sentimentality does not a viable business make.

  3. 3 Cameron Maness July 24, 2009 at 10:45 am

    This is a retail sector that has been devastated by the online competitors. Pricing for online reproductions and the ability to modify your prints without getting out of your pajamas leaves companies like Ritz looking for a much smaller market share than just a few years ago.

  4. 4 CP August 5, 2009 at 9:57 pm

    David Ritz is a horrible man for what he did to his employees. He wins the sale and the next day closes 163 stores with no notice pulls the rug out from all of them and the stores were doing good and blames the landlords for not playing ball. I hope someone knocks him off his high horse for what he did to his employess that he put out into the street and on the growing unemployment line. People like him are not helping the economy problem just adding to it. I wish someone would come in and open up stores just like him at lower prices and put him out of business and teach him a lesson.

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