by Shane McGlaun
The economy is bad; you have to have been living in a cave or in a coma to not know about that. So poor is the global economy that retail chains once rolling in the profits have been forced entirely out of business. Circuit City was one of the most recent chains to close up shop.
Nationwide camera retailer Ritz Camera filed for bankruptcy recently and has now announced that it will be closing 300 of its locations around the country. Despite boarding up 300 stores around the country, the chain will still have about 400 locations in operation nationwide. That is assuming it doesn’t come back in a week and close the remainder like Circuit City.
Ritz blames the bankruptcy filing and the closing of its locations on the poor economy and slow retail spending by consumers. The same liquidation firms that sold off Circuit City inventory will do the same for the $50 million in cameras, camcorders, and other electronics sitting in the 300 locations around the country in Ritz stores starting this weekend. It’s time for some good deals on cameras if you have the scratch.
[ Ritz Camera ]