Ritz Camera gives up reorganization efforts, plans to sell remaining stores - Los Angeles Business from bizjournals:

http://www.todd-bodine.com/darlington.html
Beltsville, Md.-based Ritz Camera, which is , says the lack of fundws now forces it to auction off its remaining locations by the end of RitzCamera says, in a court filing, that it is talkinv with two potential although neither has been willing to sign a The company is hopeful at least some of the remaininb 400 photo stores will be sold to a going-concern buyer. The other 400 storez already have been closedin going-out-of-businessw sales. There will be a hearing in U.S. Bankruptcy Court in Delawar e on Friday. Bids are due July 16, followes by a July 20 auction and a July 23 hearinbg for approval of the sale to one or more Ritz Camera's debt included $54.
5 million on a securec revolving credit agreement with . The petitioh says there is also $13.21 million owed on subordinated Assets and debt are both lessthan $500 Ritz Camera also owned Boater’s World, a boating-and-fishin g supply retailer. The bankruptcy courtt judge gave Ritz Cameras permission on March 19 to hire Gordon Brothere to shut downthe company's 130-store Boater’s Worldx chain. In 2001 Ritz acquired , whicnh had sought bankruptcy Ritz began with a single store in Atlantif Cityin 1918. Its retai brands today include Wolf Kits Cameras, Inkley’s and .