home Bankruptcy, Blog Ritz Camera Shops File For Chapter 11 Bankruptcy Protection

Ritz Camera Shops File For Chapter 11 Bankruptcy Protection

I was going through an old file cabinet about three weeks ago and I came across an extended warranty for my digital camera which I purchased from Ritz Camera, approximately 3 years ago. After looking it over and placing it back in the file cabinet I thought to myself I completely forgot that I had purchased it. Why did I purchase it anyway? I never purchase extended warranties. I read somewhere that 80% of extended warranties never get used and I was falling within the realm of that population because my camera was fine. There have been no problems thus far probably due to the lack of use.

Then as I was checking my email I came across an online news article, from the Crain’s Cleveland Business magazine, which stated Ritz Camera has filed for bankruptcy. My immediate thought was, just a sign of the times. Another one bites the dust. It seemed like retail outlets every where were folding up the tents and calling it quits. I also recalled the fact that that’s the place where I purchased my camera. I need more information, I thought.

I called Ritz Camera and boldly stated, “Hey you guys filed for bankruptcy”. The young lady answering the phone replied, “Yeah?! As though to say tell me something I don’t know. What about my extended warranty?! I bellowed into the phone. Who’s going to honor it if the need should arise?, (Like I was really concerned). I was more curios than anything. Well, we are still in business and just reorganizing. “As far as I can tell we will continue to operate and do business”. Wow!! What a relief I sarcastically stated. I wouldn’t want my warranty to go to waste. She went on to add, “but that’s the situation as it stands right now and you just never know what’s going to happen in the future. Yeah I can understand that with the state of the economy and this recession that we are in. Oh, by the way I don’t live in the area anymore, do you have a shop near my location. “Let me check, she said and placed me on hold never to return again. I actually hung up after 2 minutes of hold time.

After hanging up I thought, this is probably going to be a never used extended warranty. If my memory serves me correctly it’s due to expire this year anyway, September 2009. Where was that camera anyway? I was just looking at it the other day. Probably needs to have the dust wiped from it’s surface. Not getting much use here. I found the camera but now all of a sudden I couldn’t find the extended warranty. Where was it? I just had it the other day. What if I need it? (just joking). Even though I wasn’t concerned about that extended warranty I spent a good portion of time looking for it because I was curios about the expiration date. I may have spent 20% of my time looking for it and for no good reason.

Suddenly I recalled, that statistic once again, 80% of extended warranties are never used? I just spent 20% of my time looking for an extended warranty that I am probably never going to use. Right then and there I realized that I was a victim of the Pareto Principle. It’s funny how different things and situations make you think of other things. Well one day I am going to write an article about the Pareto Principle.

What you should take away from this is the fact that your extended warranty is still good if you happened to purchase one with your camera from Ritz. That’s how it stands as of today. See why we are voted the bankruptcy attorney san diego – Experts are claiming to the clients. The results of the case should be in the response of the client.


David Robson

David Robson is the founder of Complus Alliance. He has been writing about different topics for almost 10 years. He’s main focus is delivering quality insights to a wide array of audience.