Business & Tech
Ritz Camera to Go Out of Business
Large specialty camera retail chain has a location in Salem.
The Boston Herald reported , which has a location at 324 South Broadway in Salem, is going out of business after bankruptcy auction failed to produce a buyer for the 94-year-old company based in Maryland.
The paper reported Ritz originally went into bankruptcy several years ago but emerged from protection three years ago. They went back into bankruptcy in June. The paper cited insufficient capital as a result of the increase in digital photography and a lack of need for in-store film processing.
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