Ritz Camera Wins Approval For Asset Sale To RCI

Law360, New York (July 24, 2009, 12:27 PM EDT) -- A bankruptcy judge has approved Ritz Camera Centers Inc.'s asset sale to RCI Acquisition LLC, despite the protests of a slew of the company's landlords and creditors.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Thursday signed off on the sale, finding that the sale is fair, reasonable and in the best interest of Ritz, its estate and its creditors.

Ritz filed a notice Tuesday of its auction results, saying RCI had won with a bid of $16.25 million...
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