Ritz/Wolf Camera Stores to Close
Sep 9, 2012 04:04:55 #
First, one of the articles: ...
http://www.petapixel.com/2012/09/07/wolf-camera-liquidation-may-be-on-the-near-horizon/ ...
followed by an updated article here: ...
http://www.petapixel.com/2012/09/07/ ...
The company that bought them supposedly will start liquefying their stock/assets in a few weeks, so "going out of business" sales will start probably around the holiday shopping season, similar to the way things were handled at Circuit City when those stores closed a couple of years back. Keep in mind that once those sales start, the rumor is the Wolf gift cards or credit cards will no longer be valid, so if you have any use them now. All sales are final at these final sales, too. Check with your local stores for details on card use to make sure.
Can't say it surprises me. Wolf/Ritz never had great sales, had poor return policies, and according to a manager at one of the stores that I know, David Ritz was notorious for not really caring much about employee or customer feedback as well. Not a good recipe for any successful business on any scale.
What's interesting is that Best Buy is also not doing so hot lately. Should they close or even drastically reduce store numbers (as is rumored), and Wolf/Ritz shuts down, smaller markets may find themselves in a real retail store void where locals won't have a place to walk in and handle cameras before deciding on a purchase.
http://www.petapixel.com/2012/09/07/wolf-camera-liquidation-may-be-on-the-near-horizon/ ...
followed by an updated article here: ...
http://www.petapixel.com/2012/09/07/ ...
The company that bought them supposedly will start liquefying their stock/assets in a few weeks, so "going out of business" sales will start probably around the holiday shopping season, similar to the way things were handled at Circuit City when those stores closed a couple of years back. Keep in mind that once those sales start, the rumor is the Wolf gift cards or credit cards will no longer be valid, so if you have any use them now. All sales are final at these final sales, too. Check with your local stores for details on card use to make sure.
Can't say it surprises me. Wolf/Ritz never had great sales, had poor return policies, and according to a manager at one of the stores that I know, David Ritz was notorious for not really caring much about employee or customer feedback as well. Not a good recipe for any successful business on any scale.
What's interesting is that Best Buy is also not doing so hot lately. Should they close or even drastically reduce store numbers (as is rumored), and Wolf/Ritz shuts down, smaller markets may find themselves in a real retail store void where locals won't have a place to walk in and handle cameras before deciding on a purchase.
Sep 9, 2012 12:16:36 #
Thanks madcapmagishion. A good update.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
Sep 9, 2012 13:07:02 #
Festina Lente wrote:
Thanks madcapmagishion. A good update.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
Ahhh! But that 10% thats not junk may be a good opportunity for some, like Nikon or Canon lenses! :D
Sep 9, 2012 16:23:55 #
madcapmagishion wrote:
That's true. Festina Lente wrote:
Ahhh! But that 10% thats not junk may be a good opportunity for some, like Nikon or Canon lenses! :DThanks madcapmagishion. A good update.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
Wolf/Ritz has been in Bankruptcy for some time now. It is a sad legacy of very poor and greedy management.
I would not buy anything they sell thru liquidation as 90% of it was overpriced junk. I expect to see much of it re-appear on e-Bay by enterprising individuals.
I never saw any OEM lenses in our local Wolf/Ritz camera shops, but I'm sure they sold them.
Whether they go for a song or are picked up by a retailer is all a matter of how the liquidators handle the matter to glean the highest yield in the shortest time.
Sep 9, 2012 16:47:07 #
The stores in my area only carried off brands like sony and nikon. you can't survive like that.
Sep 9, 2012 17:35:29 #
Maybe they were bought by Bain Capital? That would explain the liquidation. :twisted:
Sep 9, 2012 17:50:02 #
larrycumba wrote:
The stores in my area only carried off brands like sony and nikon. you can't survive like that.
Off brand, Man your sure stirring the pot!!
Sep 9, 2012 17:51:59 #
If they are liquidated by the same type of company as Circuit City I would not rush in to buy. That company liquidated at almost full price for a long time. The deals were nothing that great.
Sep 9, 2012 18:55:02 #
deej wrote:
Off brand, Man your sure stirring the pot!!
larrycumba wrote:
The stores in my area only carried off brands like sony and nikon. you can't survive like that.
Off brand, Man your sure stirring the pot!!
Just having fun. Wanted to see if anybody was paying attention.
Sep 9, 2012 19:16:39 #
All I ever used Ritz for was getting the prospective buy in my hot little hands. Bought my first slr there and then discovered stores like Adorama and B&H and felt the fool.
Maybe a little less greed would have endeared them to a loyal clientel. Ya get what ya deserve for the most part.
Maybe a little less greed would have endeared them to a loyal clientel. Ya get what ya deserve for the most part.
Sep 9, 2012 19:37:04 #
Ritz has already closed 5 stores locally this year. they are down to one now. am sorry to hear they are going out. they did fill a nitch.
Sep 9, 2012 19:40:15 #
Wolf/Ritz in the Northwest has devolved into low-end cheap flimsy products, of little value/use to dedicated amateurs.
Sep 9, 2012 20:51:24 #
We have 2 Ritz stores here in Jacksonville, FL and both carry Nikon and Canon lenses, not a wide varity but a few.
Sep 10, 2012 05:34:42 #
I would have to agree than when customer service is not a priority and greed takes over, it is a sure way to fail.
Sep 10, 2012 06:02:03 #
larrycumba wrote:
The stores in my area only carried off brands like sony and nikon. you can't survive like that.
Good one!
A Nikon devotee.
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.