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The Beltsville, Md.-based company, which sellas photo supplies mainlythrough , filed for Chapter 11 bankruptcy reorganization in In April, the company closed its last Columbus-areq store on Lane Avenur and liquidated its inventories. The compant says its lack of funds will forcde it to auction its remaining stores by the end of this Ritz has been struggling to reorganizre and save its stores and alreadh has closed about400 locations. It still has storesx in Cincinnati, Toledo and North Olmstead. Ritz Camera is currently talking with two potential A hearingin U.S. Bankruptcyg Court in Delaware is set for Fridayh and bids are dueJuly 16.
A July 20 auctionn and a July 23 hearing for approval of the sale to buyersz arealso planned. Before its bankruptcgy filing, the company used to operate morethan 1,000 stores in 45 The news follows Cord Camera Centeras Inc.’s June filing for voluntary dissolution. The Columbuss photo processing and scrapbook retail which has been taken over bya receiver, filed paperas in Franklin County Common Pleas Court to dissolve its business. It asked to have a court-appointe receiver resolve outstanding financial liabilities for thecompany that’s been a Centrakl Ohio retail institution since 1954.
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