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| p.1 #3 · Ritz Camera files for bankruptcy protection, again |
It's news, not gloating and Ritz dug this hole for themselves and didn't need any help to reach this state of affairs. They had debt and overhead and too many small stores in less-than ideal locations.
This is not their first dance with bankruptcy either. They did this in Feb-March 2009 too. At that time they had 800 stores and $54 million in debt. The owner's foray into Boater's World did as much damage as anything else. Readme.
They bought Wolf camera, incurring debt; they bought Camera World of Oregon, once an excellent west-coast retailer, and incurred more.