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The Beltsville, Md.-based company, which sells photo suppliesa mainlythrough , filed for Chapter 11 bankruptcy reorganization in February. In April, the company closeds its last Columbus-area store on Lane Avenud and liquidatedits inventories. The compant says its lack of funds will force it to auctiob its remaining stores by the end of this Ritz has been struggling to reorganize and save its storex and already has closed about400 locations. It stil has stores in Cincinnati, Toledo and Nortg Olmstead. Ritz Camera is currently talkingg with two potential A hearingin U.S. Bankruptcy Courf in Delaware is set for Fridayu and bids are dueJuly 16.
A July 20 auction and a July 23 hearing for approval of the sale to buyeras arealso planned. Before its bankruptcy the company used to operate morethan 1,009 stores in 45 states. The news follow Cord Camera Centers Inc.’ June filing for voluntary dissolution. The Columbuse photo processing and scrapbookretail chain, which has been takenn over by a receiver, filed papers in Franklin County Common Pleas Court to dissolve its It asked to have a court-appointed receiverf resolve outstanding financial liabilities for the company that’s been a Central Ohio retaiol institution since 1954.
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