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Ritz Camera to Auction Remaining Stores
July 09, 2009
Beltsville, Md.-based Ritz Camera Centers Inc. has decided to sell all of its remaining store locations by the end of July, reports The Washington Business Journal. According to Ritz Camera, whose retail brands include Wolf Camera, Kits Cameras, Inkley’s and The Camera Shop, the company has been struggling to continue operations and now has insufficient funds to stock fall inventory. The company also has said that it is talking with two potential bidders, but neither one has agreed to sign a contract. Ritz Camera, which is currently in Chapter 11 bankruptcy protection, has already closed 400 of its 800 photo stores, and hopes to sell at least some of the remaining 400 to a going-concern buyer.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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