News is finally getting released in the US (the OP had a UK article):
http://www.businessweek.com/ap/financialnews/D96HEULG0.htm
http://www.businessweek.com/ap/financialnews/D96HEULG0.htm
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Ritz Camera Files for Bankruptcy Protection
- Thread starter EgbertAttrick
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You ignorant fools dont get it, our economy is crumbling before our eyes this will mean more job loss etc. this means more Americans in the food lines and homeless shelters. These jobs are all that some folks have to put food on the table at night so put your self in their shoes instead or worrying about a percentage rate.
More jobs gone!!
The stores by me in the Chicago area have been really, really, sparse as far as products in stock.
Nikon is not likely to ship them more product until they get paid with what Ritz owes them.
I would cancel your order and go elsewhere...
You ignorant fools don’t get it, our economy is crumbling before our eyes this will mean more job loss etc. this means more Americans in the food lines and homeless shelters. These jobs are all that some folks have to put food on the table at night so put your self in their shoes instead or worrying about a percentage rate.
More jobs gone!!
Political sidetrack....
Blame it on the Bush Administration for making rich corporate and shareholder types more rich and greedy by shipping jobs overseas.
I lost my well paying job years back, unemployed for 3 years, and the job I have now pays less than half of what I was making. I can no longer afford a new car, or a new computer or dSLR every year....
Plus, the people who they hire overseas for peanuts can't afford anything either.
It's just all finally catching up to them...
From what I've been reading, Ritz is going chapter 11 in order to try to remain afloat, not shutting down. My guess is that they'll close some stores in oversaturated markets and change some business models, but that they'll stick around.
I hope they stay, myself. Say what you must about high prices and bad service, but Ritz has saved my behind when I was out of town on a shoot and needed something immediately. Given the choice, I'll walk into Calumet or Samy's when I'm home in SoCal, and I'll order from B&H when in NYC, and nothing can compare to Yodobashi in Akihabara, but when I'm in Fresno or some nameless town in the freezing middle of nowhere Michigan wastelands shooting a rally or whatever, Ritz can be pretty useful.
I hope they stay, myself. Say what you must about high prices and bad service, but Ritz has saved my behind when I was out of town on a shoot and needed something immediately. Given the choice, I'll walk into Calumet or Samy's when I'm home in SoCal, and I'll order from B&H when in NYC, and nothing can compare to Yodobashi in Akihabara, but when I'm in Fresno or some nameless town in the freezing middle of nowhere Michigan wastelands shooting a rally or whatever, Ritz can be pretty useful.
^^^ thanks for being an optimist!
But unfortunately, they said the same thing with Circuit City...
But unfortunately, they said the same thing with Circuit City...
You ignorant fools dont get it, our economy is crumbling before our eyes this will mean more job loss etc. this means more Americans in the food lines and homeless shelters. These jobs are all that some folks have to put food on the table at night so put your self in their shoes instead or worrying about a percentage rate.
More jobs gone!!
They caused job loss when they crushed all the nice local camera stores. No sympathy here. They're minimum wage jobs, people can find more min. wage jobs. Its good jobs that we're missing.
I was wondering why the Ritz store near me didn't seem to have display models out any more. I assume there's a connection.
Ritz is at least predictable. Random local camera stores seem to run the range from great to awful.
Ritz is at least predictable. Random local camera stores seem to run the range from great to awful.
I have to echo these sentiments. It's as though Ritz is/was blind to the fact that their products could be found elsewhere at a much lower cost. I can honestly say that a total of ONE time I went into a Ritz locally, and dealt with someone that had knowledge of photography such that they could give a decent opinion. (Rather than simply point to the highest ticket items.)
You ignorant fools don’t get it, our economy is crumbling before our eyes this will mean more job loss etc. this means more Americans in the food lines and homeless shelters. These jobs are all that some folks have to put food on the table at night so put your self in their shoes instead or worrying about a percentage rate.
More jobs gone!!
They are not going out of business because folks are not buying the products, they are going out of business because they failed to compete for business.
sad but true. i'm still sad to see them go down because all we are left will be online ordering and some high prized jewelery stores. also very sad for the employees.
i'm very pessimistic about this even if they try to restructure during chapter 11 protection. clueless top managers will close the good shops and keep the wrong ones open, everything will be a mess, workers demotivated, sales will further decline and eventually the entire thing get shut down or sold and mostly shut down. i hope they don't drag good retailers like B&H or Hunt's down with them.
^^^^ Around Chicago - Ritz may be going down but it seems that Calumet is on the rise.
They seem to have great service and expertise and will match local competitor prices.
They seem to have great service and expertise and will match local competitor prices.
I'm not so pessimistic. In fact I am hopeful.
I do not buy into the sky is falling lunacy. Folks are spending their money more wisely, and the companies with good practices, good product, and good sense will thrive while the not-so-wisely run companies will die off.
What I DO feel worried about, is the government keeping unhealthy companies on life support, regardless f how badly they are run.
Maybe if many more EchoAdmin's had before the going out of business sale it might have saved some of the stores.
Actually if one thinks about it, now is the time - more than ever - for if we allow more of our local stores (whether big boxes or Mom and Pops) it will lead to higher unemployment locally.
Loss of sales to internet firms that do not collect state sales taxes; leads to less money for services and infrastructure needs - which can lead to higher sales and property taxes as states try to over come loss of local businesses and the taxes generated locally.
The loss of jobs will end up with more homes in foreclosure. Which leads to erosion of property values, and even less money for state funding needs.
It may take a village to raise a child; but that village has to sustain itself to even be there for that child.....
The rebates were prob the same SanDisk rebates I applied for myself. No worries the money is form SanDisk Not Ritz.
The rebates were prob the same SanDisk rebates I applied for myself. No worries the money is from SanDisk Not Ritz.
I went to Ritz to print some pictures Wednesday at the Pentagon City Mall in Arlington, and came home this weekend to Blacksburg to find the local Ritz was shut down for good... My friend worked there too, I feel for him... But maybe we'll get some good deals from this, seeing that lens prices are on the rise..
A Wolf Camera on the way home from work just shut down and it was abruptly (I assume stock went to another store?).
I read online that many of these stores are "liquidating" - does anyone know of any Ritz's or Wolf's with sales?
I read online that many of these stores are "liquidating" - does anyone know of any Ritz's or Wolf's with sales?
I haven't heard of any sales going on a Ritz, Wolf, or Inkley's (in Utah and Idaho). My uncle was the founder of Inkley's and roughly 10 years ago sold out to Dave Ritz. He still has a lot of pull as far as his old stores go, but things aren't looking good. My grandfather owns the building that the local store is in, and they didn't pay any of February's rent. They did pay March however.
I haven't heard of any sales going on a Ritz, Wolf, or Inkley's (in Utah and Idaho). My uncle was the founder of Inkley's and roughly 10 years ago sold out to Dave Ritz. He still has a lot of pull as far as his old stores go, but things aren't looking good. My grandfather owns the building that the local store is in, and they didn't pay any of February's rent. They did pay March however.
Well they just filed for Chapter 11 Protection, they aren't officially under yet but it can't be looking any good since lens prices are going up and they can't even sell at this price...
On the way home from a different client, and the Wolf Camera I pass by on that route closed also...
What exactly is the story?
I heard they are closing stores, but which ones? Seems like the Wolf's that are closing around Chicago. The Ritz's are staying...
They are mainly closing company owned stores, kind of like what Starbucks did. But it all depends I guess, our local store just up and closed.
Well, more stores are closing. These are the ones up in Schaumburg (Woodfield Mall area).
The saleslady said they are closing all stores in high-rent districts. The only one staying open up there is one I remember as being originally a Lyons Photo (maybe they own that property? A really nice standalone with it's own parking lot).
They are liquidating with 20% off the CLEARANCE prices as far as camera equipment. She said that all first-party lenses sold the first day.
They had a 30D body new for $570 and a 40D for $890 (new with USA Warranties). They also had a Nikon D60 body new for $399.
I just got a 50mm 1.8 from Calumet for my 20D. I miss my Canon equipment I sold over 15 years ago for Nikon. I wish I had kept my EOS stuff instead (I'd have EF lenses for my 20D) but Ritz also had a Canon Rebel Ti film SLR body for $100! (New-Old-Stock). Bought it. Sweet!