Is Ritz Camera Still In Business
 | |
| Type | Subsidiary of C&A Marketing |
|---|---|
| Industry | Photographic products and services |
| Founded | 1918 |
| Defunct | 2012 |
| Fate | Chapter 11 bankruptcy |
| Headquarters | 2 Bergen Turnpike Ridgefield Park, NJ 07660 Us |
| Key people | Harry Klein (President) Chaim Pikarski (Vice President) |
| Website | www.ritzcamera.com |
Ritz Camera & Image (formerly Ritz Camera Centers) is a photographic retail and photofinishing specialty store, headquartered in Edison, New Jersey. The company owns and used to operate a concatenation throughout the United States nether the names Wolf Camera, Inkley'south and Ritz Camera. In 2012, Ritz Camera was acquired by C&A Marketing.
History [edit]
The family-endemic company (Ritz Camera Centers, Inc., predecessor in interest to Ritz Camera & Image, LLC) was founded every bit a portrait studio in 1918 by Benjamin A. Ritz, in the Ritz Hotel in Atlantic City, New Jersey. Whether the occasion was a wedding, graduation, or confirmation, the tradition in Atlantic City in the early 20th century was to have information technology captured with a B. A. Ritz portrait.[1] In 1936, Benjamin and his brother Edward opened the showtime Ritz flick-processing lab in Washington, D.C. Ritz Camera was headed by Edward'due south son, David Ritz.
Services [edit]
Ritz Camera was the starting time concatenation photo-finishers to offer 4×vi prints from 35mm film, as well as free bordered prints, as standard. Ritz Photographic camera is also the showtime national concatenation to offering four.5×6, unremarkably known every bit 6D, prints. Dissimilar the traditional 4×half dozen prints used for motion picture, Ritz's 6D prints reverberate the different aspect ratio of 4:iii digital images. Ritz stores stocked 6D sized frames and albums.
In July 2003 Ritz Camera introduced Ritzpix.com, which likewise offers customers online ordering and in-store pickup inside an hour. Ritzpix.com is currently powered by Lucidiom. In 2010, customers had an option on ritzpix.com to have an online guild delivered next day to their domicile at no extra charge.
In May 2006 Ritz Camera appear a partnership with YesVideo to start offering aforementioned day DVD Transfers in all stores nationwide. These stores can transfer VHS, SVHS, MiniDv, Digital 8, and digital media to DVDs in about the fourth dimension any particular tape takes to play.[2]
In 2007 and early 2008, Ritz began installing Oki and Xerox equipment in their locations to enable the product of hard-back photo books, photograph calendars, and custom greeting cards by customers via in-store kiosks or through RitzPix.com for in-store pick upward. Ritz and Motophoto are the simply two national retailers to offer these services in a i-hour lab.
Offset in 2008, Ritz began installing lamination/mounting machines in many of their stores to offer foamcore mounting and laminating up to 24×36 inch prints in shop.
In February 2010, Ritz started offering Metallic Printing upwards to 30×forty size on Kodak Professional Endura Metallic Paper and Deep Matte Prints on Fujifilm Newspaper.
In May 2010, Ritz Camera started the Ritzpix Network, which for upwards to $20/month in imaging products, customers could get up to $100 off whatsoever qualifying camera. After multiple requests from customers, Ritz Camera & Image created the Ritz & Wolf Photo Patrol. Photograph Patrol consist of Private Tutoring, 4 costless Photography Classes with camera purchase, and ii 60 minutes. seminar classes.
Ritz Interactive [edit]
In 1999, David Ritz and others founded Ritz Interactive, Inc., an Irvine, California-based e-commerce company formed to bring the retail store brands to the internet. Despite the fact that the two companies share warehouse space and some personnel, Ritz Interactive and Ritz Photographic camera Centers are officially separate companies.
In 2002, Ritz Interactive caused the Internet division of Cameraworld.com, a Portland, Oregon-based visitor.[3] (Cameraworld.com's shop and catalog business were acquired by Ritz Photographic camera, rather than Ritz Interactive.)[4]
In 2003, Amazon.com formed a sales alliance with Ritz Interactive, Inc., in a deal to augment the online retail behemothic's choice of camera products and accessories.[five]
According to the Wall Street Periodical, Ritz Interactive Inc., which operates the websites for such retailers equally Ritz Camera and Boaters World, filed for Chapter 11 bankruptcy protection on Baronial 19, 2011. The Irvine, Calif., visitor reported assets of about $809,000 and debts of $vii.2 one thousand thousand in its bankruptcy petition, filed Friday with the U.S. Defalcation Court in Santa Ana, Calif. Courtroom papers show Ritz Interactive'southward executive committee of its board of directors accounted the Affiliate 11 filing "in the best interests" of the company, its creditors and stakeholders. Court papers show that David Ritz holds an 18.55% stake in the company. Among Ritz Interactive's debts are a $3.55 million secured claim held by Ritz Camera. Ritz Interactive's top unsecured trade creditors include American Express, owed about $434,000; Federal Express, owed nearly $104,000; and Google, owed more than $45,000. In May 2012, Ritz Interactive was acquired by Ritz Photographic camera & Image.
Bankruptcies [edit]
2009 defalcation and buy by RCI [edit]
On February 22, 2009, Ritz Camera Centers, Inc. filed for Chapter 11 bankruptcy protection. Chief Restructuring Officeholder Marc Weinsweig cited the 2008 ongoing recession caused Ritz'south 2008 vacation sales to be "materially lower" than a year earlier. Boater's World besides suffered heavy losses in 2008 as gas prices soared.[6] On Apr ii, 2009, information technology announced the closure of more than 300 stores nationwide and the liquidation of its Boaters Globe subsidiary in an attempt to reorganize and emerge from bankruptcy.[vii]
On July 21, 2009, Reuters reported that a group called "RCI" had agreed to purchase the firm's remaining 375 stores for $33.i 1000000; the grouping included David Ritz. The group said it would attempt to keep all 375 stores open up. The purchase understanding required approval of the bankruptcy court which was scheduled to hear the instance on July 23.[8]
In November 2009, the new company, Ritz Camera & Image, LLC (RCI) opened five new stores, with a total open of about 300, with a wider range of products, including televisions, meaty laptop computers, and smartphones.[ix]
2012 bankruptcy and liquidation [edit]
On June 22, 2012, Ritz Camera & Prototype filed for Affiliate eleven bankruptcy protection once more and closed 128 of its stores. On September 6, 2012, liquidation specialists Gordon Brothers Retail Partners LLC and Hilco Merchant Resource LLC won an auction for Ritz Camera'southward assets and began the process of closing most of the 137 stores that remained. New Bailiwick of jersey-based camera distributors C&A Marketing have caused the online RitzPix business and volition operate a few of the retail locations across the country.[10]
On September x, 2012, it was announced that all Ritz, Wolf and other associated subsidiaries would shut by the end of October, while a few would reopen under C&A Marketing alongside Ritzpix and RitzCamera.com on November 1, 2012,[xi] and other stores were sold individually or in small groups to other retailers, including three locations to Calumet Photographic.
See also [edit]
- Digital camera
- Moving picture camera
- Photography
References [edit]
- ^ Ritz Camera Company (July 2009). "Ritz Photographic camera Company History". Retrieved 2009-07-15 .
- ^ Press Release (May 2006). "Ritz Photographic camera Offers YesVideo DVD Transfer Products and Services". Archived from the original on 2006-06-24. Retrieved 2006-05-08 .
- ^ Earnshaw, Aliza (May 3, 2002). "Cameraworld.com purchased by Ritz Interactive". Portland Business Journal . Retrieved 2015-02-04 .
- ^ Kosseff, Jeffrey (May 15, 2002). "Cameraworld sells flagship store to Ritz". The Oregonian. p. C1.
- ^ Havlik, Dan (August 2003). "Ritz and Adorama Join Forces with Amazon.com". Imaging Business mag. Retrieved 2006-09-05 .
- ^ Jonathan Stempel (Feb 2009). "Ritz Camera files for Affiliate 11 bankruptcy". Reuters. Retrieved 2009-02-24 .
- ^ "Ritz Camera to Close More 300 Stores Nationwide; Store Endmost Sales Scheduled to Begin April iv". BusinessWire. April 2009. Retrieved 2009-04-26 .
- ^ "Ritz Camera president, group buys chain in sale". Reuters. July 21, 2009.
- ^ V. Dion Haynes (December 28, 2009). "Ritz Camera aims to remake itself by diversifying its inventory". Washington Post.
- ^ Joseph DiStefano (September 11, 2012). "Ritz Camera brand will survive liquidation". Philadelphia Inquirer . Retrieved September 11, 2012.
- ^ Eli Zandman (September 12, 2012). "Another Dark 24-hour interval For Retail every bit Ritz Camera Announces it Will Shutter All Stores". Tomorrow'southward News Today - Atlanta . Retrieved September 12, 2012.
External links [edit]
- Online Website for Ritz, Wolf, Inkleys, & Kits Photographic camera Stores
- RitzPix.com commercial
- Corporate site for Ritz Interactive, Inc.
- https://blogs.wsj.com/bankruptcy/2011/08/22/ritz-interactive-clicks-into-chapter-11/
Source: https://en.wikipedia.org/wiki/Ritz_Camera_%26_Image
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