Ritz Camera bankrupt, some stores closing
Ritz Camera & Image LLC filed for Chapter 11 bankruptcy protection from creditors on Friday, saying it will close underperforming stores.
A worker who answered the phone at the Westmoreland Mall store said it closed yesterday, but Ritz's website still lists stores at South Hills Village, Monroeville Mall, Waterworks Mall and the Northway shops in the Pittsburgh region.
Yesterday's bankruptcy filing by the Beltsville, Md.-based camera retailer was its second in three years.
The 94-year-old retailer listed debt and assets of at least $50 million each in court papers filed in federal court in Wilmington, Del.
The company, with sales of $254 million in the 12 months before April 30, said it wasn't making enough money to justify keeping open all its 265 stores.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Ex-teammates say Kessel unfairly criticized
- Newest Penguin Kessel’s unique shot is what makes him so special
- Tiny black weevils booming in W.Pa.
- Pirates notebook: Taillon headed for surgery, Richard traded
- Lion cubs jump hurdles in Gaza Strip in journey to Jordan sanctuary
- Northwest wildfire season begins early
- Ohio got DEA approval to import lethal-injection drugs
- America’s path to freedom reflected in region’s numerous historic sites
- Airlines offer small conveniences to counter higher fees, less space
- Hiring freeze, budget cuts put West Virginia on better footing
- McDonald’s localizes menus to battle growing competition