Ritz Interactive Files for Bankruptcy

Ritz Interactive has filed for Chapter 11 bankruptcy protection.

"Until as recently as 2007, Ritz Interactive, No. 171 in the Internet Retailer Top 500 Guide, was putting up annual web sales of as much as $111 million and operated more than a dozen niche e-commerce sites.

"But a sour economy, problems with inventory and other factors have caused Ritz Interactive to file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Central District of California. Ritz Interactive, which owns and operates RitzCamera.com and other sites, isn’t talking publically about its bankruptcy filing. It’s also unclear how Ritz Interactive intends to restructure."