Ritz Camera layoffs, bankruptcy

Daily Record

Beltsville-based Ritz Camera Centers Inc. filed for bankruptcy protection on Monday citing the shift to digital cameras and the national recession.

Ritz also informed the state will be laying off 64 workers at its headquarters. It said in a filing with the Maryland Department of Labor, Licensing and Regulation that it began cutting staff Feb. 10. The company did not respond to multiple requests for comment.

The privately held company filed for Chapter 11 protection from its creditors in U.S bankruptcy court in Wilmington, Del., and will attempt to reorganize and continue operating. In a filing, Ritz’s Chief Restructuring Officer Mark S. Weinsweig blamed falling sales in the company’s lucrative photo processing business, as well as losses at Boater’s World Marine Centers, a chain of stores owned by Ritz.

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