news-record.com

GREENSBORO - Ritz Camera will close one of its two Greensboro stores, along with more than 300 stores nationwide, as part of a court-supervised bankruptcy reorganization.

Nationwide, the retail inventory to be liquidated is valued at more than $50 million, according to a news release issued last week. Store closing sales began Saturday and are expected to continue "until everything is sold to the bare walls."

The 91-year-old company bought Atlanta-based Wolf Camera in 2001 after that chain filed for bankruptcy. Ritz filed for bankruptcy reorganization in February, blaming its troubles on the recession and consumers' evolution toward digital photography. The company is based in Beltsville, Md.

The Greensboro store closing is at 1216-A Bridford Parkway in the Wendover Place Shopping Center. The company will continue to operate stores at Friendly Center in Greensboro and Hanes Mall in Winston-Salem.

Ritz is also closing its Ritz Camera Big Print One Hour store in Piedmont Mall in Danville, Va. The complete list of stores closing is online here (.pdf)