Ritz Interactive files Chapter 11

According to the Wall Street Journal, the company reported assets of approximately US-$ 0.8 million and debts of US-$ 7.2 million in its bankruptcy filing. Ritz Interactive’s Executive Committee of its Board of Directors (chaired by RCI CEO David Ritz) said the Chapter 11 filing is “in the best interests” of the company, its creditors and stakeholders.

The US photo specialty chain Ritz Camera & Image emerged from the Ritz Camera Centers after their filing for bankruptcy in February 2009.