Ritz Camera, aka baoters World files Ch 11

West Marine started taking action early last year and began closing stores. Let's hope they can keep thier heads above water

Mr Salt
2001 540 CMMY
Caterpillar C-12s
Cape May, NJ
 
Bridog said:
Gift cards in general used to be a good idea. Not anymore.
Click to expand...

I don't understand them not allowing the use of gift cards. You pay cash to buy them (cash or credit, its still cash sale to them), they should hold the same value as cash... and be good to use same as cash...

Just another load of BS... Where are the laws to protect the consumer?
 
"Ritz owes about $13 billion in debt to other parties under a series of debentures issued in 1995".

Just shows you how old I am....I can remember when that was a lot of money.

:smt043
 
i live up here by cleveland ohio and west marine cloesed 3 stores about 18 months ago, and boaters world was always cheaper. where are we lake erie boaters to go...........
 
Is the online the same as the brick & mortar stores? I thought I heard something that there was a difference????
 
West Marine had three stores in Southeast Michigan and closed one last year and a second : the inventory is down.
 
Hmm it always bothered me when I bought something there that it always said Ritz Camera
 
Looks like the article says otherwise though. I do know that the online gift cards could not be used at the stores.
 
So I'm confused. Is Boaters World included in the Ritz Chapter 11 filing?

Nevermind. I see now in the article that "Ritz has about 800 photo stores in 40 states, operating as Ritz Camera, Wolf Camera, Kits Cameras, Inkley's and The Camera Shops. It also operates 130 Boater's World stores." Sorry about my confusion.
 
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That is a shame. BTW, David Ritz is a boater. Not the kind of boater like us mind you. His is HUGE. I believe it is over 200' called Sea Bowld...

He comes to Baltimore once in a while. It is an impressive yacht. The cockpit has room for all kinds of toys and room for a 3-on-3 basketball game...
 
Gift cards are unsecured debt..........get in line with all the other debtors and good luck.

Many of the current rash of Chapter 13 filings are done to force landlords in high $ leased locations to renegotiate lease terms. Most re-emerge from bankruptcy in much healthier financial condition. If gift card holders are lucky, the companies will re-affirm the debt created by the gift cards.
 
From Boater's World's web site:

"Ritz Interactive and its e-commerce websites, (which include RitzCamera.com, BoatersWorld.com, WolfCamera.com, CameraWorld.com and others) is a separate company from Boaters World Marine Centers, with its almost 1,300 stores, (which includes Ritz Camera, Boater's World, Wolf Camera, Kits Camera and others)."

West Marine just closed their store near us, too. Prices at the Boater's World just down the road were always quite a bit higher than WM's: the cockpit sprayer I bought last year was $130 at BW and $65 at WM.
 
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Thanks Jeff, I thought I heard they were separate companies. Kind of funny in this area BW was cheaper than WM on most item?
 
Well, the BW is a nice, big, fancy store and the WM was a small, crowded place. But, they had what I needed (usually), and were cheaper. If I wanted things like stainless steel drink holders I had to go to BW, but they had the important stuff.

There are quite a few boating stores in our area, and there's another WM about 15 minutes away...but the one that closed was on the way to the boat :grin:.
 
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