http://www.photoreporter.com/article.asp?issueID=122&num=09&vol=17&articleType=ts&articleID=2885

"...Ritz does not have enough funds to purchase inventory for the fall
and to continue daily operations. Ritz Camera “determined for a number
of reasons that a plan to exit bankruptcy as a stand-alone going
concern business is not a likely option,” Reuters quoted from
documents filed on July 7 in federal bankruptcy court in Delaware."

"A hearing on the bidding is scheduled for July 10 at the U.S.
Bankruptcy in Wilmington, and Ritz Camera Centers intends to hold the
auction on July 20 with a court hearing on July 23 to approve the
sale. Once approved by the court, going out of business sales could be
held the next day, according to Reuters’s reporting."


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