Hilco, Gordon Brothers to Liquidate Ritz Camera
The U.S. Bankruptcy Court for the District of Delaware has granted permission for specialty camera shops chain Ritz Camera & Image LLC to liquidate it assets after the company failed to find a buyer for its remaining 137 stores.
The company’s June filing marked the second time in three years it had to file for Chapter 11 protection. An auction was held on September 6 to sell the company as a going concern or sell the right to liquidate through going-out-of-business sales, a Bloomberg article said. A partnership of Hilco Merchant Resources and Gordon Brothers Retail Partners won the auction to liquidate the company.
To read the Bloomberg article in its entirety, click here.
Previously on abfjournal.com: