Ritz Camera, Wolf Camera & Boaters World

[tiggr33]

I just read this in the newsletter of the New Jersey Federation of Camera Clubs. "Ritz Camera, the nation’s largest retail camera store chain, has filed for Chapter 11 bankruptcy. This over 600 store chain also operates under the
name of Wolf Photo and additionally owns 137 Boater’s World stores. A combined amount of $40,000,000 is owed to Canon and Nikon alone."

A related article in the Washington Post

 

[KCmike]

Sad.
Too many businesses, too many jobs lost lately.
People go out and spend your money. Let's get America back on track.

 

[boBQuincy]

Anyone who owns a boat is not the problem, they are spending plenty! It was just *too* easy to spend a lot with a camera store next to a boating store! ')

 

[JeffPoth]

I hate to rely on this kind of situation but will the stores send their stock back or mark it down?

 

[Swoop1]

I hate to rely on this kind of situation but will the stores send their stock back or mark it down?

You just might. I thought at first it was a straight Chapter 11, but after reading the article, it seems they are looking to liquidate their Marine stores and the Camera shops that they close.

 

[rtphokie]

In the end this is a good thing. A retail camera store doesn't need to be in the retail boat business. Also, Ritz/Wolf over expanded. It has over 1000 stores (some articles on the bankruptcy say 800).

I live in Raleigh NC and there are 14 Ritz/Wolf stores in the immediate area. There is a Ritz in each of the 4 large enclosed malls and the rest are in strip malls. It's hard to sell enough cameras and process enough film (a dying business) to compete against the big box retailers like WalMart and Best Buy in any economy, especially this one.

 

[tiggr33]

Anyone who owns a boat is not the problem, they are spending plenty!

You ain't kidding! We are boat owners and pay plenty to enjoy the sport/hobby.

 

[DisneySuiteFreak]

Thia is really sad. Ritz is one of two retail companies where I live that sell Nikon cameras and Nikon compatible 3rd party lenses. The other store only sells Nikon. And there is one other mom and pop store that sells strictly Canon. There are no other stores in town that have people working on the floor who know a darn thing about cameras. (Best Buy is the only other retailer, but I wouldn't buy a camera from them unless it was a very good price and I knew exactly what I wanted. The salespeople there are useless when it comes to DSLR info. And they only carry the cheapy/junk lenses.) Ritz came into town and the one store that specialized in professional camera and film equipment for photographers and filmmakers went out of business. And now they might closed up shop too.

 

[spinetnglr]

We only have one Ritz store in this immediate area and its located within the Boscov's department store. I suppose once the Ritz's close Boscov's will no longer sell photo equipment. Or maybe they will have a department with a display more like the Target and Staples type camera department with no counter help or higher end type equipement.

 

[spinetnglr]

This was in the new newletter from dpreview. Looks like they are going to try and keep some of the stores open and restructure things.

http://www.dpreview.com/news/0902/09022403ritzcameras.asp

 

[DisneySuiteFreak]

I wonder if they will make it out intact? Like Circuit City and other companies that have gone belly up even after filing for Chapter 11 protection, the problem is that no one is writing loans for companies that owe millions of dollars to their creditors. They'll give it to you if you don't need it though!