The winning group plans to keep the majority of its 375 stores open.
The losing bidders in the day-long auction were the team of liquidators Hilco and Gordon Brothers Group, as well as Ilex Retail Holdings LLC.
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The winning group plans to keep the majority of its 375 stores open.
The losing bidders in the day-long auction were the team of liquidators Hilco and Gordon Brothers Group, as well as Ilex Retail Holdings LLC.
Why in the world would David Ritz want to buy back a company he already ran into the ground? Granted I know it's not completely his fault with the way consumers aren't spending right now, and with the trend in digital photography to not print anything....but still. Is the man insane?
David Ritz ultimately was the captain of the ship and some of the decisions HE made were not the right ones for the company to begin with. The proof is the fact that there are only 375 stores left out of over 1000 strong.
As a former employee, let's hope that David Ritz does not make the same mistakes of supply chain waste, marketing ineptness, and continuing with an antiquidated POS system.