ATLANTA (AP) -- According to a filing it its bankruptcy case, Ritz Camera will close 18 photo shops in Georgia.
Nationwide, the retail inventory to be liquidated is valued at more than $50 million, according to a press release from a joint venture group in charge of going-out-of-business sales.
The 91-year-old company bought Atlanta-based Wolf Camera in 2001 after that chain filed for bankruptcy.
Ritz filed for bankruptcy reorganization in February, blaming its troubles on the recession and consumers< evolution toward digital photography. The company is based in Beltsville, Md.
In Georgia, 16 of the stores closing are Wolf stores, while the other two are Ritz outlets. The company will be left with about 400 stores nationwide, with dozens still operating in Georgia.
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