Ritz Camera's Auction Schedule Wins Green Light

Law360, Wilmington (July 30, 2012, 11:21 PM EDT) -- A Delaware bankruptcy court approved bidding procedures for Ritz Camera & Image LLC on Monday, paving the way for the bankrupt photographic retailer to market a streamlined version of itself as it attempts to escape Chapter 11 for a second time.

RCI filed for bankruptcy June 22 — just three years after it exited the court's protection — and secured a $20 million debtor-in-possession financing package that mandated an aggressive timetable for the company to downsize ahead of a Chapter 11 auction.

U.S. Bankruptcy Judge Kevin...
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