Ritz acquires bankrupt Wolf Camera

Atlanta – Locally based Wolf Camera has turned to its largest rival, Beltsville, Md.-based Ritz , for a partnership. Ritz is spending $84.7 million to acquire Wolf, which filed for bankruptcy in June.

If the deal is completed, it will lead to a resolution of Wolf’s bankruptcy case and form a company with more than 1,300 stores in 48 states.

Ritz says it will keep the Wolf name on 61 stores in the Atlanta metro area and change 10 of its stores in the area to the Wolf banner.