Ritz Camera’s long battle for survival appears to be over. Reuters reported that U.S. Bankruptcy Court in Wilmington approved the liquidation of the company, which has been undergoing its second Chapter 11 filing in recent years.
In its first trip into bankruptcy court, Ritz closed a large number of stores, but even with a smaller footprint could not deal with competition and the move toward digital cameras that eliminate the lucrative photo processing business.
Another factor was the rise of Internet-based companies like Amazon.com that are now beginning to squeeze event giants like Best Buy, yet another Riz competitor.
According to a Bloomberg story, the company was at one time the nation’s camera retailer.
Ritz has a location in Pike Creek, Del. operating under The Camera Shop name.