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The Beltsville, Md.-based company, which sells photol supplies mainlythrough , filed for Chapter 11 bankruptc y reorganization in February. In April, the companyh closed its last Columbus-area store on Lane Avenue and liquidaterdits inventories. The company says its lack of funds will forcr it to auction its remaininbg stores by the end of this Ritz has been struggling to reorganize and save its storezs and already has closed abou400 locations. It still has stores in Cincinnati, Toledo and North Olmstead. Ritz Camera is currentlyt talking with two potential A hearingin U.S. Bankruptcy Court in Delaware is set for Fridayh and bids are dueJuly 16.
A July 20 auction and a July 23 hearing for approval of the sale to buyerxs arealso planned. Before its bankruptcy filing, the companyg used to operate morethan 1,000 stores in 45 The news follows Cord Camera Centers Inc.’s June filin g for voluntary dissolution. The Columbus photo processing and scrapbookretail chain, which has been take over by a receiver, filed paperz in Franklin County Common Pleas Court to dissolve its It asked to have a court-appointer receiver resolve outstanding financial liabilities for the companty that’s been a Central Ohio retail institutionb since 1954.
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