TribLIVE

| Home


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Ritz Camera bankrupt, some stores closing

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Friday, June 22, 2012, 6:52 p.m.
 

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.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Stories

  1. Route 19 accident in Mt. Lebanon injures five people
  2. Rooney says Pittsburgh is ‘good place’ for next northern Super Bowl
  3. Ambridge fire brought quickly under control
  4. Dungy, Greene represent more Steelers ties in hall of fame voting
  5. Pa. Treasurer McCord resigns without explanation, to leave Feb. 12
  6. HOF finalist Bettis ‘behind everything’ in 2005 Super Bowl run
  7. 2nd lawsuit filed against Gov. Wolf seeking reinstatement of open records director
  8. Newkirk replaces Jones in Pitt’s starting lineup vs. Notre Dame
  9. Police: Woman thwarted abduction at Jefferson Township convenience store
  10. UPMC researcher who died of cyanide poisoning committed suicide
  11. Rushing to stop Obama