Ritz Camera & Image LLC plans to go out of business after 94 years as it failed in a bankruptcy auction to find a buyer to keep the largest U.S. specialty camera retail chain open, Reuters reported yesterday. Bankruptcy Judge Kevin Gross yesterday approved a plan to turn over most of Ritz's assets to liquidation specialists Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC, the high bidders at a Sept. 6 auction, court records show. C&A Marketing Inc, an online retailer, plans to acquire some of Ritz's intellectual property assets, court records show. Ritz filed for chapter 11 protection from creditors on June 22, less than three years after emerging from an earlier bankruptcy under the ownership of a group led by President David Ritz, part of its founding family.
