waybomb
03-09-2009, 10:33 PM
BELTSVILLE, Md. — Ritz Camera Centers has filed a motion in bankruptcy court seeking approval of bidding procedures for the sale of its Boater’s World business, according to a report on NetDockets.com (http://netdockets.wordpress.com/2009/03/02/ritz-camera-seeks-approval-of-procedures-to-exit-boaters-world-business). Ritz filed for bankruptcy (http://www.boating-industry.com/output.cfm?ID=2039581) Feb. 22.
"Ritz currently operates 130 Boater’s World stores, but has determined that it should exit the Boater’s World business either through a going concern sale or by liquidating those assets," according to NetDockets.
The motion seeks approval of the following timeline for the bidding process:
Deadline to object to proposed bidding procedures: March 9
Hearing to approve bidding procedures: March 10
Deadline to object to sale: March 12
Deadline for potential buyers to submit bids: March 16
Auction: March 17
Hearing to approve sale: March 19
"Ritz currently operates 130 Boater’s World stores, but has determined that it should exit the Boater’s World business either through a going concern sale or by liquidating those assets," according to NetDockets.
The motion seeks approval of the following timeline for the bidding process:
Deadline to object to proposed bidding procedures: March 9
Hearing to approve bidding procedures: March 10
Deadline to object to sale: March 12
Deadline for potential buyers to submit bids: March 16
Auction: March 17
Hearing to approve sale: March 19