Ritz Camera Centers selects store closing sale consultant, sales to start April 4

By Caroline Salls

Pittsburgh, April 2 - Ritz Camera Centers, Inc. obtained court approval to hire a joint venture comprised of Great American Group, LLC, SB Capital Group, LLC, Tiger Capital Group, LLC and Hudson Capital Partners, LLC to conduct its closing sales at its photo stores, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

More than 300 stores will be closed, with liquidation sales at these stores to start on April 4, the company said. Inventory at these branches is valued at more than $50 million.

After the stores are shut, Ritz will be left with more than 400 stores.

Ritz, a Beltsville, Md.-based specialty camera and image chain, filed for bankruptcy on Feb. 22. Its Chapter 11 case number is 09-10617.

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