TribLIVE

| Home


Weather Forecast
 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Ritz Camera bankrupt, some stores closing

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.

 

 
 


Show commenting policy

Most-Read Stories

  1. Steelers finalize 53-man roster
  2. Biertempfel: First base becoming new hot corner for Pirates
  3. Pirates edge Reds, 3-2, for 4th consecutive victory
  4. 3 wrecks Saturday keep emergency responders busy
  5. Pirates minor league report: Bell concluding breakout season
  6. Sunday’s scouting report: Pirates vs. Reds
  7. Pitt cruises past Delaware in season opener
  8. Stats Corner: Corner men Marte, Snider deliver punch
  9. Pennsylvania Gov. Corbett’s Medicaid change expected to have little impact with voters
  10. Pitt notebook: Offensive linemen rotate during rout over Delaware
  11. Western Pennsylvania colleges cautious about Ebola risk from students
Subscribe today! Click here for our subscription offers.