Ritz camera liquidating malaga dating
Ritz Camera & Image is a photographic retail and photofinishing specialty store, headquartered in Edison, New Jersey.
The company owns and operates a chain of six locations throughout the United States under the names Wolf Camera, Inkley’s and Ritz Camera.
Retail inventory valued at more than million will be liquidated at the stores that are being closed.
Store closing sales offering substantial discounts on all inventory at those locations will begin on Saturday, April 4, and are expected to continue until everything is sold to the bare walls.
Strauss' five trips to bankruptcy court, however, seem to be unique among both private and public companies.
The move will leave approximately 400 Ritz Camera stores still open around the country.
Under the Bankruptcy Code, the debtor or bankruptcy trustee has a period of 120 days from the commencement of the case to determine whether to assume or reject a commercial lease.
If a decision to assume or reject is not made during this time period, the lease will be deemed rejected.
However, the period may be, and often is, extended for an additional 90 days by order of the Bankruptcy Court.
As leases are often some of the most important assets of a retail debtor, this deadline often drives the schedule of a bankruptcy case.