Ritz Camera & Image LLC, the 94-year-old Washington D.C.-based camera company, will liquidate its assets and go out of business, the company announced Monday. No timetable has been announced for closure, but the has posted signs indicating that all stock is 20 to 40 percent off.
Ritz, once one of the largest camera special supply stores in the country, has not been able to adapt in the age of digital cameras and online photo sharing.
At a Sept. 6 auction, Ritz failed to find a buyer to keep the chain's remaining stores open. Two liquidation companies—Boston-based Gordon Brothers Retail Partners LLC and Northbrook, Ill.-based Hilco Merchant Resources LLC—were the highest bidders, Bloomberg reports.
Ritz is also the parent company of The Camera Shop and Wolf Camera.
The Ardmore store, located at 149 W Lancaster Ave. in the Ardmore West Shopping Center, is open 9 a.m. to 8 p.m. Monday through Saturday, and 11 a.m. to 5 p.m. on Sundays.