Note: Wolf / Ritz Camera has filed for Chapter 11 Bankruptcy (All Over the Country)

Discussion in 'Photography Equipment & Products' started by PatrickHMS, Mar 17, 2009.

  1. AlexColeman

    AlexColeman TPF Noob!

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    Meh.
    I enjoy going in there and BSing with the guys. However I would never purchase there. Adorama is unbeatable, they are only slightly better then Best Buy.


     
  2. Txaggie08

    Txaggie08 TPF Noob!

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    As a Ritz employee who's been getting the legal briefs etc.

    The bankruptcy was filed because we lost our line of credit, and have re-established the line with a new creditor. Ritz will not be closing(They are closing a few stores but less than half of them). Boaters world is the biggest drain on the corporation and needs to go.

    Nikon and canon are shipping directly to us btw. You coming on here and blowing smoke making it sound like we are going belly up comes dangerously close to libel. I routinely send my customers to this forum for advice and to back up what I'm trying to sell them. I would appreciate you not making statements out your rear claiming we will be going out of business.

    I'll give you a hint on those rebates btw, ours take no longer than everywhere elses does, and most come directly from epson.
     
  3. usayit

    usayit No longer a newbie, moving up!

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    Under chapter 11, the extended warranty contracts are intact. It is very rare to see them go null and void even WITH a store closure. Many retail chains are not in the warranty business. They are retailers of said services; ie a third party vendor would honor the agreement. I've been in this boat with "The Wiz" store chain went out of business.. Yes.. it was a little inconvenient having to deal with someone who is not local.

    Nothing new... liquidators. The process of selling off a particular chain can be costly for the company who doesn't have the resources to accomplish such task. As such, it is easier to just sell the entire location (and all of the contents) to a liquidator for a single transaction. The liquidator will then take care of the mess of cleaning out the location. There were signs post explaining the situation when Shaper Image, Circuit City, and CompUSA all went kaput.

    As mentioned before, you should examine the address to which your rebate went to and contact that entity. If it is not a rebate through Ritz, then I would stop blaming them.
     
  4. PatrickHMS

    PatrickHMS TPF Noob!

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    I NEVER said ANYTHING in this thread that was or is not true.

    I just made the sincere mistake of offering a heads up to readers here that Wolf / Ritz had filed for Chapter 11, so is that true or not?

    I believe that to be true, so no libel there.

    Mentioned the possible liquidation of stores, tells me that there won't be any deals for us who would love to see them if that does happen.

    Since I have had two bad experiences with them recently, I simply told my personal experience of returning an item in December that I paid $400 (made the silly mistake of paying) cash for, and Wolf requires that refund comes as a check from the Corporate offices. It took me well over two
    months of asking before I ever got that, because they had lost something related to the first check, and had to cut me another one. If I hadn't asked for it from this end I never would have gotten it because of what they had lost.

    I bought something in December that offered a mail in rebate from Ritz that I have not received, and although I mailed in proper forms several months ago, I have been told not to expect it. Last I was told was that they were out of funds.

    Have been a loyal Wolf customer for 40 years, since 1969, and have spent thousands of $$ there over the years (what about you?), and have even praised them and recommended them in other posts here on this forum.

    I was simply warning others to be careful in these times, what is wrong with that?

    I know about Sharper Image, CompUSA, and Circuit City, and I am very thankful that I don't have any product bought there that I am having trouble with, also glad I didn't pay good money for any extended warranties from those stores I would have to deal with.

    I don't want to see Wolf/Ritz go belly up, and sincerely don't think that I could personally cause that even if I tried.

    Was just warning others to be careful, in these times, so someone here did not lose their hard earned money because they were not aware.

    Shoot the messenger, right?
     
  5. usayit

    usayit No longer a newbie, moving up!

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    "so be very careful in your financial dealings with them from now on."

    threads like this does hurt their business... as Txaggie08 pointed out.
     
    Last edited: Mar 18, 2009
  6. PatrickHMS

    PatrickHMS TPF Noob!

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    What a warm, friendly, supportive place this TPF is...lol...LOL...ROFLMAO!

    I apologize for trying to warn anyone here from potentially losing money.

    Won't happen on here again, making the mistake of caring.

    With guys like me and Bernie Madoff, what's this Country coming to?
     
  7. Chris Sandström

    Chris Sandström TPF Noob!

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    Hi,
    I tried to explain why Ritz went bankrupt in the following presentation:

    Disruptive Innovation And The Bankruptcy Of Ritz Camera

    Parallells can be drawn to other shifts to digital technology (e.g. radios and calculators) and the effects this had on the sales channels.

    Best,

    Christian
     
  8. ha6570a

    ha6570a TPF Noob!

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    Passing on the info I received today:

    Per a customer service rep named Ly that I spoke with today, rebates are being delayed 10-12 weeks (beyond the normal 6-8 week timeframe), but "at this time" they intend to honor them. That is what I was told. My rebates for $60 were submitted on 1/13; should have received them in 8 weeks; called mid-March; was told they were having "processing delays" but would be mailed shortly (was not told about bankruptcy); 4 weeks later (today), I called again - was told b/c of bankruptcy proceedings, they would be delayed.

    So the info that the rebates aren't taking any longer than others is incorrect. And the rebates I am getting are from Ritz for a Lexmark, not an epson.
     

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