Ritz Camera (my employer) filed for Chapter 11 bankruptcy protection, today. God d*mn it...
http://uk.reuters.com/article/marketsNewsUS/idUKN2332434320090223
http://uk.reuters.com/article/marketsNewsUS/idUKN2332434320090223
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Ritz Camera Files for Bankruptcy Protection
- Thread starter EgbertAttrick
- Start date
- Sort by reaction score
Wonder what this will do to people who bought an extended warranty through Ritz??
The insurance offered by Ritz (which is the BEST in the the business) is handled by different companies, so those with protection should not be affected by anything Ritz decides to do in the future.
Nice! I bought a 2 year warranty through them.
Hopefully they stay in business! I always enjoy going to Ritz!
what about mail in rebates? I had purchased 3 SD flash cards from Ritz camera, and I had like 90$ mail in rebates waiting WTF
Unless they were 3rd party rebates, you're likely out of luck (unless the rebates were processed and completed well in advace of their Chapter 11 filing).
Best thing about a recession is the going out of business sales. I got the d40 for 350$ new at circuit city (rip). also picked up the 55-200mm vr nikkor lens from them for only 150$. With ritz I'm going to rack in the savings without the expense of quality.
Wow, I got my Olympus dSLR there on closeout for a great price. (didn't buy the extended warranty, as the price of the warranty was the same price as buying just the body on closeout online). Too bad, the service at the ones around me are great.
Very hard to compete with Amazon, with lower prices, no tax, and free shipping (as long as you know what you want).
Plus, I know that companies are expecting people to buy and upgrade digital cameras as often as they buy and upgrade computers, but not in today's economy...
Very hard to compete with Amazon, with lower prices, no tax, and free shipping (as long as you know what you want).
Plus, I know that companies are expecting people to buy and upgrade digital cameras as often as they buy and upgrade computers, but not in today's economy...
So, here's a question. I ordered D40 with 2 lenses from them for $599 (which was a good deal.) They shipped only the one lens (the kit lens), told me the other lens (55-200VR) was on back order. Still waiting for shipment of that second lens. Where does that leave me? I'm hoping they haven't charged my credit card yet, and if they do, that I have ability to challenge it since I haven't received my order.
Dave
Dave
Best thing about a recession is the going out of business sales. I got the d40 for 350$ new at circuit city (rip). also picked up the 55-200mm vr nikkor lens from them for only 150$. With ritz I'm going to rack in the savings without the expense of quality.
I wouldn't be so smug, people are losing their jobs while you can splash out on non essentials, if you can do that now, you could have done it earlier, keeping them in business and those people in jobs.
Chapter 11 just means protection from creditors while the company reorganizes. It doesn't means they're closing the doors and pulling the plug - that's a chapter 7 bankruptcy. Back in the late 70's/early 80's I was a store manager for a retail chain who was operating under chapter 11 protections. They ended up being acquired by another company and that sucked for me. The customers never noticed. So I imagine your order is just fine.
On the other hand, the Nikon and Canon account managers for Ritz are probably closeted with company lawyers at the moment...
On the other hand, the Nikon and Canon account managers for Ritz are probably closeted with company lawyers at the moment...
They may not get more in until they either pay what they currently owe Nikon (see article) or if Nikon decides to send them more product on credit anyways.
Happend to me over Christmas, my company gave me a Voucher (called that in Europe but was in the form of a Discover Card) only good at a list of stores - I tried to get the 16 Gig iPod Nano at Circuit City but they never had them in the stores. The guy said to "order it online at Circuit City". Was suspicious as they started to close stores and doubtful that Apple was going to send them more product on credit. Was able to get one anyways at Macy's (Marshall Field's, really
).I would cancel your order or go elsewhere for the rest of your order.
Best thing about a recession is the going out of business sales. I got the d40 for 350$ new at circuit city (rip). also picked up the 55-200mm vr nikkor lens from them for only 150$. With ritz I'm going to rack in the savings without the expense of quality.
Spend a bit more time reviewing bankruptcies and less time being so smug (as it was pointed out above). Chapter 11 means nothing to you as a consumer. No deals will be had for you there so move along to the empty shelves of Circuit City.
It is good that they're just reorganizing but people will be losing their jobs no doubt. No industry is safe ... at all.
It's an interesting point of limbo, actually. I've already started using the camera they sent me, while waiting for the new lens. I believe they can't charge my credit card until after they complete the order (at least, they said they wouldn't). And Nikon is one of Ritz Camera's biggest creditors, so it would seem they're going to have a hard time getting those lenses, unless Nikon decides to make good on Ritz's promises as a PR move.
The truly ironic thing is that I spent a little bit more at Ritz because I was more comfortable with them than one of the other internet camera shops.
Dave
IMO I am not too surprised. Sorry to hear about your job though, that sucks.
But compared to online retailers their prices are high, and in the stores around me the customer service isn't good enough to make up the gap.
Usually if I need something same day I will make a run over to Pro Photo Supply here in town. They can usually best the prices at Ritz/ Kits/ Wolf by a few bucks, and the people there will usually go the extra mile.
It's hard to be brick-n-mortar these days...
But compared to online retailers their prices are high, and in the stores around me the customer service isn't good enough to make up the gap.
Usually if I need something same day I will make a run over to Pro Photo Supply here in town. They can usually best the prices at Ritz/ Kits/ Wolf by a few bucks, and the people there will usually go the extra mile.
It's hard to be brick-n-mortar these days...
^^^
The only problem with that now is that there may be no longer a Ritz store to have to match...
The only problem with that now is that there may be no longer a Ritz store to have to match...
Yeah...I heard from my wife today around lunchtime that they were filing.
My wife used to be an associate there for over 2 years, going from Chicago to Denver (various stores). She left last October to focus more on her studio with her partner (who still is employed by Wolf, although she works on the old commission system).
Anyway, I am glad she left and hope the company does better in the future. I am worried about her partner though, as she makes quite a good sum of money on commission. I guess they can spend both more time working on the business (which is doing well by the way).
My wife used to be an associate there for over 2 years, going from Chicago to Denver (various stores). She left last October to focus more on her studio with her partner (who still is employed by Wolf, although she works on the old commission system).
Anyway, I am glad she left and hope the company does better in the future. I am worried about her partner though, as she makes quite a good sum of money on commission. I guess they can spend both more time working on the business (which is doing well by the way).
Between internet prices (Amazon mainly w/tax free) and the ability to price shop so many stores without getting off the couch, the improvements in color printers, memory cards where you can just select a few prints and not a whole roll, the pretty quick change over from film to digital etc it is hard to believe some of these stores have lasted as well as they have.
From my price shopping with them, I found their prices closer to MSRP than many online, adding in local taxes around 8% it just made them just that much more expensive.
These days you almost need to have focus on something other than photography or a very good reputation to survive.
From my price shopping with them, I found their prices closer to MSRP than many online, adding in local taxes around 8% it just made them just that much more expensive.
These days you almost need to have focus on something other than photography or a very good reputation to survive.
Good riddance. They charge 30% or more over reasonable retailers and kill local camera stores. I hope they don't get protection and have to file chapter 11.
Ritz/Wolf/Kits is probably my least favorite store in the world, bar none.
Ritz/Wolf/Kits is probably my least favorite store in the world, bar none.
Um, they are filing CH 11... That is protection... You are thinking of CH 7.
Err if they charge 30% or more over local camera stores then how exactly do they kill off local stores? It isn't like they are undercutting them by using their larger size to offer better prices if what you say is true.
Of course, spend for the good of the country. Makes sense.
If EchoAdmin had bought his d40 + lens earlier, would it have saved Circuit City from bankruptcy? Not likely. Did he get himself a good deal? Definitely. Since when is it our duty as consumers to spend our money preemptively to support struggling superstores?
Separately, my two experiences with Ritz were forgettable. In both cases, their price was so far above what others were charging that I was sure they were looking up the wrong model numbers. The salesperson, who I think was also the store owner, didn't understand lens specifications. An unbeatable combination of high prices and poor service.
Best thing about a recession is the going out of business sales. I got the d40 for 350$ new at circuit city (rip). also picked up the 55-200mm vr nikkor lens from them for only 150$. With ritz I'm going to rack in the savings without the expense of quality.
If EchoAdmin had bought his d40 + lens earlier, would it have saved Circuit City from bankruptcy? Not likely. Did he get himself a good deal? Definitely. Since when is it our duty as consumers to spend our money preemptively to support struggling superstores?
Separately, my two experiences with Ritz were forgettable. In both cases, their price was so far above what others were charging that I was sure they were looking up the wrong model numbers. The salesperson, who I think was also the store owner, didn't understand lens specifications. An unbeatable combination of high prices and poor service.