Ritz Camera Centers, the nation's largest retail photography chain, has filed for Chapter 11 bankruptcy protection. The Beltsville, Md.-based company submitted its filing Sunday in federal bankruptcy court in Wilmington, estimating assets and liabilities at between $100 million and $500 million. The list of its top 30 unsecured creditors is led by Nikon Inc. and Canon USA Inc., which are owed a combined $40 million in trade debt.
Ritz has about 800 photo stores in 40 states, operating as Ritz Camera, Wolf Camera, Kits Cameras, Inkley's and The Camera Shops. It also operates 130 Boater's World stores. The company, which has about 6,400 employees nationwide, recorded sales of just under $1 billion last year.
Ritz Camera Files Seeks Bankruptcy Protection
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