Ritz Camera files Chapter 11

[david b]

Yup, Ritz Camera filed for Chapter 11.

What killed them? Their photo-finishing business or the lack thereof.

And did you know that they also owned Boaters World?

Read more here.

[eric]

I think the innernet killed brick and mortar shops. I've been to a "ritz" type store once and my friend bought a $15 lens cap. I can get that for like 4 bucks on the innernet.

And who in the world has money to buy any of those uber digital stuff anyway? No one has the money to go to the movies (than goodness there's a second run movie theater near me for a $1.50) let alone buy a fancy $5,000 digital camera so they can take pictures of little Joey at the soccer game.

[Derek Lofgreen]

I went to a Ritz once. I was treated like a leper because I still shoot film and the store was nearly empty anyway. I won't miss them. I have several camera shops in my area, one that doesn't even stock cameras, just accessories, film and a lab. They are very competitive on internet pricing. One that has a walk in fridge full of film that even beats internet pricing if you buy more than 5 rolls at a time. An economy like this just shows us who is the weakest of the bunch. The strong will survive and thrive by the time this is all over with.

D.

[bobwysiwyg]

I was never impressed with Ritz either. All this makes me a bit nervous though. I just hope Huron Camera, which is in a nearby small town, can hold on. Sure, they carry digital stuff, but also cater to film. Good selection of film, chems, paper, etc. and a pretty large selection of used 35mm cams and lens with a few used enlargers as well. It's nice to be able to drop in for some film, or just browse.

[Uncle Bill]

Another casulty of the great economic enema of 2008-09.

[JBrunner]

I think the downturn only sped up the inevitable. Somewhere along the line Ritz lost focus. In my recent visits I couldn't find a feel or identity in the store, more like "here's the stuff", and "here's the price". Also, it became increasingly hard to find anyone who knew anything. I'm not really going to miss them if they fold, but I am sorry for anyone who loses their job.

On the bright side, the more this happens, the more room for good companies to survive.

[Lopaka]

I was never impressed with Ritz either. All this makes me a bit nervous though. I just hope Huron Camera, which is in a nearby small town, can hold on. Sure, they carry digital stuff, but also cater to film. Good selection of film, chems, paper, etc. and a pretty large selection of used 35mm cams and lens with a few used enlargers as well. It's nice to be able to drop in for some film, or just browse.

I thought Huron went out of business some time ago. They dropped out of the used camera shows a couple of years ago, and about the same time their website disappeared.

[Uncle Bill]

I think the downturn only sped up the inevitable. Somewhere along the line Ritz lost focus. In my recent visits I couldn't find a feel or identity in the store, more like "here's the stuff", and "here's the price". Also, it became increasingly hard to find anyone who knew anything. I'm not really going to miss them if they fold, but I am sorry for anyone who loses their job.

On the bright side, the more this happens, the more room for good companies to survive.

That kind of attitude is guarranteed to kill a chain even in good times. When will retailers get it, bad customer service+ poor selection= poor sales and eventually trip to chapter 11 or CCRA if you are in Canada.

[Monophoto]

Ritz always struck me as having a very curious business plan. They appeared to avoid any appeal to professionals and serious amateurs, which put them in direct competition with WalMart and every corner drug store in the world for the joe-sixpack mass market - the very market that blindly rushed into the conversion to digital that drove them out of their core business, processing.

[Lopaka]

Another casulty of the great economic enema of 2008-09.

Their bankers reduced their line of credit, accelerating the cash flow problem. When bankruptcy 'protection' is filed, all the payables become 'pre-petition claims' and are held up until a plan of reorganization and payment schedule/amount approved or the business is liquidated. This puts additional cash flow pressure on the suppliers. Hang on, lots more to come before this is over.

Bob