Ritz Cameras and Accessories. Goodbye. Well not goodbye, but... - GoFuckYourself.com

seeric · 02-24-2009, 12:52 PM

Goodbye.

The fall of retail is well underway. Ritz Camera and Accessories yesterday filed for protection under U.S. Bankruptcy law.

There are many more behind them. Westfield Shopping Malls has also begun operations to try and avoid bankruptcy proceedings. Shortening store hours, etc.

It's about to get really ugly going into summer when retail slumps anyhow.

http://www.businessweek.com/ap/finan.../D96HEULG0.htm

The Beltsville, Md.-based company submitted its filing Sunday in federal bankruptcy court in Wilmington, estimating assets and liabilities at between $100 million and $500 million. The list of its top 30 unsecured creditors is led by Nikon Inc. and Canon USA Inc., which are owed a combined $40 million in trade debt.

The company said revenue from its profitable photofinishing business has declined significantly with the shift from film to digital cameras, and that 2008 holiday sales were "materially lower" than prior year sales. It also said23 an increase in gasoline prices, along with other economic factors, led to a sharp drop in sales in its Boater's World recreational marine business last year.

Ritz has about 800 photo stores in 40 states, operating as Ritz Camera, Wolf Camera, Kits Cameras, Inkley's and The Camera Shops. It also operates 130 Boater's World stores. The company, which has about 6,400 employees nationwide, recorded sales of just under $1 billion last year.

(continued on source site)

Juicy D. Links · 02-24-2009, 12:54 PM

esimo!!!!!!!!!!!!!!!!!!

Deej · 02-24-2009, 12:55 PM

crackers...

Juicy D. Links · 02-24-2009, 12:56 PM

munki · 02-24-2009, 01:00 PM

Might be time to head down to ritz soon to check out the d60 I've had my eyes on.

CIVMatt · 02-24-2009, 01:00 PM

Good shitty store with shitty overpriced products

Nikki_Licks · 02-24-2009, 01:01 PM

I don't buy equipment from them anyway.....way too expensive ;)

It?s sad to see companies going under because it leaves people unemployed...

MeganS · 02-24-2009, 01:20 PM

what did you win at the xbiz awards airek?? i didn't even see ...
P.S. Congrats!

xoxo,
Megan

pornguy · 02-24-2009, 01:21 PM

They should have been getting away from film processing for some time.

seeric · 02-24-2009, 04:11 PM

Quote:

Originally Posted by GFFMegan

what did you win at the xbiz awards airek?? i didn't even see ...
P.S. Congrats!

xoxo,
Megan

Sexiest Male of course.

Duhhhhhhhh!!!!

hypedough · 02-24-2009, 04:17 PM

How long until the sales?

dial · 02-24-2009, 04:20 PM

the time of walk in camera and film stores has been gone for YEARS, Ritz just didn't realize it

Voodoo · 02-25-2009, 05:09 AM

Quote:

Originally Posted by A1R3K

Sexiest Male of course.

Duhhhhhhhh!!!!

Proof or it didn't happen.

undersoul · 02-25-2009, 07:56 AM

haven't been their in years!

HorseShit · 02-25-2009, 08:06 AM

I haven't walked in a Ritz camera and purchased a camera in a longggggg time, there is too many other places to get cameras at a better price

trishauptown · 02-25-2009, 09:56 AM

Yea....i went to one the other day at my local mall.....and it was gone!!! FUCK!!! We have limited camera store here in BFE!!!!!

02-24-2009, 12:52 PM	#1
seeric .......... Industry Role: Join Date: Aug 2004 Location: .......... Posts: 41,917	Ritz Cameras and Accessories. Goodbye. Well not goodbye, but... Goodbye. The fall of retail is well underway. Ritz Camera and Accessories yesterday filed for protection under U.S. Bankruptcy law. There are many more behind them. Westfield Shopping Malls has also begun operations to try and avoid bankruptcy proceedings. Shortening store hours, etc. It's about to get really ugly going into summer when retail slumps anyhow. http://www.businessweek.com/ap/finan.../D96HEULG0.htm The Beltsville, Md.-based company submitted its filing Sunday in federal bankruptcy court in Wilmington, estimating assets and liabilities at between $100 million and $500 million. The list of its top 30 unsecured creditors is led by Nikon Inc. and Canon USA Inc., which are owed a combined $40 million in trade debt. The company said revenue from its profitable photofinishing business has declined significantly with the shift from film to digital cameras, and that 2008 holiday sales were "materially lower" than prior year sales. It also said23 an increase in gasoline prices, along with other economic factors, led to a sharp drop in sales in its Boater's World recreational marine business last year. Ritz has about 800 photo stores in 40 states, operating as Ritz Camera, Wolf Camera, Kits Cameras, Inkley's and The Camera Shops. It also operates 130 Boater's World stores. The company, which has about 6,400 employees nationwide, recorded sales of just under $1 billion last year. (continued on source site)

02-24-2009, 12:55 PM	#3
Deej I make pixels work Industry Role: Join Date: Jun 2005 Location: I live here... Posts: 24,386	crackers... __________________ Deej's Designs n' What Not Hit me up for Design, CSS & Photo Retouching Icq#30096880

02-24-2009, 01:00 PM	#5
munki Do Fun Shit. Industry Role: Join Date: Dec 2004 Location: OC Posts: 13,393	Might be time to head down to ritz soon to check out the d60 I've had my eyes on. __________________ “I have the simplest tastes. I am always satisfied with the best.” -Oscar Wilde

02-24-2009, 01:00 PM	#6
CIVMatt Amateur Pimpin Industry Role: Join Date: Aug 2004 Location: Orlando, FL Posts: 13,075	Good shitty store with shitty overpriced products __________________ Make easy money with Webcams

02-24-2009, 01:01 PM	#7
Nikki_Licks Confirmed User Join Date: May 2005 Location: Behind The Lens Posts: 6,323	I don't buy equipment from them anyway.....way too expensive ;) It?s sad to see companies going under because it leaves people unemployed... __________________ Amateur Content ICQ: 292 356 077

02-24-2009, 12:54 PM	#2
Juicy D. Links So Fucking Banned Industry Role: Join Date: Apr 2001 Location: N.Y. -Long Island -- Posts: 122,992	esimo!!!!!!!!!!!!!!!!!!

02-24-2009, 12:56 PM	#4
Juicy D. Links So Fucking Banned Industry Role: Join Date: Apr 2001 Location: N.Y. -Long Island -- Posts: 122,992

02-24-2009, 01:20 PM	#8
MeganS Confirmed User Industry Role: Join Date: Jul 2004 Location: Cali Baby! Posts: 1,487	what did you win at the xbiz awards airek?? i didn't even see ... P.S. Congrats! xoxo, Megan __________________ Megan S Broadcast, Licensing and DVD www.nmgmanagement.com

02-24-2009, 01:21 PM	#9
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	They should have been getting away from film processing for some time. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

02-24-2009, 04:17 PM	#11
hypedough Confirmed User Join Date: Sep 2007 Location: Now running NATS4: HypeDough.com! Posts: 3,743	How long until the sales? __________________ Ricky D :: Hype Dough President \| XBIZ.net \| ICQ 172-939-826 AIM+Skype HypeDough \| [NATS4] Kayden420: ['09 '10 '11 XBIZ Nominee \| Exclusive & HD] \| ThePornScout: [Exclusive + Reality \| Amateurs Want to Become Pornstars]

02-24-2009, 04:20 PM	#12
dial Confirmed User Join Date: May 2006 Location: wherever you aren't Posts: 1,225	the time of walk in camera and film stores has been gone for YEARS, Ritz just didn't realize it __________________ boom chicka wah wah

02-25-2009, 07:56 AM	#14
undersoul Confirmed User Join Date: Sep 2006 Location: underground Posts: 1,212	haven't been their in years! __________________ RIP TD

02-25-2009, 08:06 AM	#15
HorseShit Too lazy to set a custom title Join Date: Dec 2004 Posts: 17,513	I haven't walked in a Ritz camera and purchased a camera in a longggggg time, there is too many other places to get cameras at a better price

02-25-2009, 09:56 AM	#16
trishauptown Confirmed User Join Date: Feb 2004 Location: Kentucky Posts: 990	Yea....i went to one the other day at my local mall.....and it was gone!!! FUCK!!! We have limited camera store here in BFE!!!!! __________________ Now with VNA Vette Nation Army http://www.vickyathome.com/stickydollars.htm trisha at trishauptown.com Skype Trisha Uptown ICQ 135249705