Ritz averts bankruptcy

[DEMDeepEllumMusic]

http://www.washingtonpost.com/wp-dyn...src=newsletter

But it looks like the suppliers got kicked in the teeth short term.

[toverman]

Good for Mr. Ritz in believing in the company. I hope the new plan works and creates a better experience for customers, too!

[Gambit]

Creditors always get stiffed in a bankruptcy. If there was enough money & assets to pay the creditors, the biz wouldn't be bankrupt. Didn't always work that way, but these days there are enough folks/companies/vc with money willing to loan to a biz if they've got collateral. (Well, ok, in the last 18-24 months there's not quite as many of those as there were...)

[ggeen]

...but if you read the article closely,

The creditors committee, Indyke said, approved Ritz's business plan for the new company.

So if the got kicked in the teeth, it is their own doing.

[ka5txl]

saves me from going to walgreens, cvs, walmart for my (I don't care about the quality) prints