Daily News: June 25, 2012

Ritz Camera Files for Chapter 11 for Second Time in Three Years

Specialty camera shop chain Ritz Camera & Image LLC has filed for Chapter 11 protection in the U.S. Bankruptcy Court in the District of Delaware. This filing marks the second time the company has filed for bankruptcy in three years.

A BusinessWeek article notes that the founding family of the company failed to turn the company around after it previously emerged from bankruptcy.

Ritz listed $50 million in both assets and debt in its filing.

To read the BusinessWeek article in its entirety, click here.

Previously on abfjournal.com:

Court Approves Sale of 400 Ritz Camera Stores, Friday, March 27, 2009

Ritz Camera Files for Bankruptcy Protection, Tuesday, February 24, 2009