Is Pentax in trouble?

jack56 · 05-06-2009, 07:55 PM

I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW.

Any truth to that? I hope not.

I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted.

heliphoto · 05-06-2009, 07:57 PM

From what I hear, Ritz's been sayin' that for years, yet, they are the bankrupt company... Too funny!

Damn Brit · 05-06-2009, 07:57 PM

You'll be in trouble if you post in the wrong place again.

Moved to News and Rumours.

jack56 · 05-06-2009, 08:05 PM

Originally posted by Damn Brit

You'll be in trouble if you post in the wrong place again.

Moved to News and Rumours.

Sorry.

I thought general discussions was the correct place to post. I'm new here.
I didn't see the News & Rumours. Now I know.

mutedphotos · 05-06-2009, 08:09 PM

I worked for Ritz for 3 years, trust me, sales associates don't know anything about corporate issues. It's a horribly run company, which is why they're struggling to keep their head above water.

I'm sure it really just boils down to profit margins, which are higher with Canikon (and of course the crappy Quantaray store brand), and to some extent Sony. Pentax, Oly, Sigma, Fuji...all of these are rare for Ritz stores (the DSLRs at least, not the P&S). For what it's worth, of those four companies, Pentax is the most common. I've never seen a Sigma DSLR in person, and only once held a Fuji that a customer ordered from our warehouse. The only Oly's I've seen were in other stores (Best Buy I think, can't remember). This might be different in your area but it seems (or at least seemed) consistent throughout Virginia.

**monochrome** · 05-06-2009, 08:20 PM

Originally posted by jack56

I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW.

Any truth to that? I hope not.

I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted.

Pentax does not offer trade credit to Ritz. Canon and Nikon are holding the bag for $14,000,000 and $26,000,000 respectively to Ritz during the bankruptcy reorganization - they'll get 30 cents on teh dollar if they are lucky.

Part of the reason Pentax is not shown in some camera stores / chains is the lack of trade credit - retailers have to use their own bank credit to buy Pentax inventory. Less reputable dealers will suggest that Pentax is a bad risk so they can "steer" buyers to the other two in order to get faster inventory turnover - turnover lowers the cost of trade credit / increases the wholesale discount (increases the profit margin).

jack56 · 05-06-2009, 08:28 PM

Originally posted by monochrome

Part of the reason Pentax is not shown in some camera stores / chains is the lack of trade credit - retailers have to use their own bank credit to buy Pentax inventory. Less reputable dealers will suggest that Pentax is a bad risk so they can "steer" buyers to the other two in order to get faster inventory turnover - turnover lowers the cost of trade credit / increases the wholesale discount (increases the profit margin).

That makes sense. He was trying to get me to sell my Pentax on craigslist and buy the Sony they had on sale.

And this post/threads got me wondering too:
https://www.pentaxforums.com/forums/pentax-news-rumors/26454-pentax-canada-close-down.html

.

SteveM · 05-06-2009, 08:39 PM

Originally posted by jack56

I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW.

Any truth to that? I hope not.

I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted.

I was in in the local larger retail store here last week.....and 2 months ago they had reduced their Pentax line on the shelf but now it appears to be larger than Sony (only Nikon and Canon have more space but not by a ton as it used to be). Apparently the K-m is doing OK. Pentax isn't doing "great" here but it is doing OK.....we are influenced by the Asian market which I am presuming pentax is still doing well. I'll be asing them when they expect to get in their first K-7

**monochrome** · 05-06-2009, 08:59 PM

Originally posted by jack56

That makes sense. He was trying to get me to sell my Pentax on craigslist and buy the Sony they had on sale.

And this post/threads got me wondering too:
https://www.pentaxforums.com/forums/pentax-news-rumors/26454-pentax-canada-close-down.html

.

So- Ritz Store doesn't have the money to BUY your Pentax as a TRADE-IN and resell it in their used department? Maybe it's because they are BANKRUPT - they really DON"T have the money to buy your camera. I think Pentax was pretty smart in that case.

Regarding Canada - look at the date that thread was started - May 2, 2008, and they're still around a year later. Pentax Canada may close down some day, as have some of the smaller divisions in Europe, (to be consolidated in Paris for efficiency) - but not because Pentax is going out of business..

KungPOW · 05-06-2009, 09:28 PM

Pentax just would not be Pentax if they ever lost the "going out of business rumor"

Now with Ritz folding, I wonder who will carry the torch?

Pentax can be found in all of the camera stores I frequent. It never occoured to me that in other parts of the world, especially in the USA, that Pentax would be a rare beast.

Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots.

SteveM · 05-06-2009, 09:36 PM

Originally posted by KungPOW

Pentax just would not be Pentax if they ever lost the "going out of business rumor"

Now with Ritz folding, I wonder who will carry the torch?

Pentax can be found in all of the camera stores I frequent. It never occoured to me that in other parts of the world, especially in the USA, that Pentax would be a rare beast.

Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots.

I used to live in Connecticut.....Ritz was one of those mall outlets.....like Blacks here in Canada....expensive but convenient. I don't know why anyone would buy a body or lens from them.....when you can go down the street (or online) and buy it for 1/3rd the price. Once the mall shoppers dry up so do the sales....

Damn Brit · 05-06-2009, 09:42 PM

Originally posted by jack56

Sorry.

I thought general discussions was the correct place to post. I'm new here.
I didn't see the News & Rumours. Now I know.

I'm glad you've come here with a sense of humour.

Enjoy the forum, if you're not sure where to post, you can always PM a Moderator.

jack56 · 05-06-2009, 09:56 PM

Originally posted by KungPOW

Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots.

I can't wait to get a 50 f1.4 lens. In the old days when I had my Nikon FM, Olympus OM1 & Pentax K1000, that was the best lens to start out with.

southy · 05-06-2009, 10:33 PM

Originally posted by jack56

I can't wait to get a 50 f1.4 lens. In the old days when I had my Nikon FM, Olympus OM1 & Pentax K1000, that was the best lens to start out with.

Many would argue that it still is

It is usually a good first lens to satisfy LBA. It was for me! I have really taken advantage of pentax's vintage primes, especially being on a hobbyists budget,

falconeye · 05-07-2009, 01:41 AM

Originally posted by jack56

This was in the largest Mall in the NW.
Any truth to that?

This is a fair question.

Originally posted by Damn Brit

You'll be in trouble if you post in the wrong place again.

Why?
Asking a question is NOT News nor Rumor

Originally posted by monochrome

Pentax does not offer trade credit to Ritz. Canon and Nikon are holding the bag for $14,000,000 and $26,000,000 respectively to Ritz during the bankruptcy reorganization

And this was the fair and simple answer.
Ritz doesn't carry Pentax because they couldn't afford it anymore and steer customers away from Pentax. Question. Answer. No rumor. Nothing new.

05-06-2009, 07:55 PM	#1
jack56 Senior Member Join Date: Apr 2009 Location: Tacoma, WA Photos: Gallery Posts: 119	Is Pentax in trouble? I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW. Any truth to that? I hope not. I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted.

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05-06-2009, 07:57 PM	#2
heliphoto Veteran Member Join Date: May 2008 Location: Region 5 Photos: Gallery Posts: 2,539	From what I hear, Ritz's been sayin' that for years, yet, they are the bankrupt company... Too funny!

05-06-2009, 07:57 PM	#3
Damn Brit Guest	You'll be in trouble if you post in the wrong place again. Moved to News and Rumours.

05-06-2009, 08:05 PM	#4
jack56 Senior Member Join Date: Apr 2009 Location: Tacoma, WA Photos: Gallery Posts: 119 Original Poster	Originally posted by Damn Brit You'll be in trouble if you post in the wrong place again. Moved to News and Rumours. Sorry. I thought general discussions was the correct place to post. I'm new here. I didn't see the News & Rumours. Now I know.

05-06-2009, 08:09 PM	#5
mutedphotos Senior Member Join Date: May 2007 Location: Virginia Beach, VA Posts: 149	I worked for Ritz for 3 years, trust me, sales associates don't know anything about corporate issues. It's a horribly run company, which is why they're struggling to keep their head above water. I'm sure it really just boils down to profit margins, which are higher with Canikon (and of course the crappy Quantaray store brand), and to some extent Sony. Pentax, Oly, Sigma, Fuji...all of these are rare for Ritz stores (the DSLRs at least, not the P&S). For what it's worth, of those four companies, Pentax is the most common. I've never seen a Sigma DSLR in person, and only once held a Fuji that a customer ordered from our warehouse. The only Oly's I've seen were in other stores (Best Buy I think, can't remember). This might be different in your area but it seems (or at least seemed) consistent throughout Virginia.

05-06-2009, 08:20 PM	#6
monochrome Loyal Site Supporter Join Date: Mar 2008 Location: Working From Home Photos: Gallery \| Albums Posts: 26,276	Originally posted by jack56 I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW. Any truth to that? I hope not. I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted. Pentax does not offer trade credit to Ritz. Canon and Nikon are holding the bag for $14,000,000 and $26,000,000 respectively to Ritz during the bankruptcy reorganization - they'll get 30 cents on teh dollar if they are lucky. Part of the reason Pentax is not shown in some camera stores / chains is the lack of trade credit - retailers have to use their own bank credit to buy Pentax inventory. Less reputable dealers will suggest that Pentax is a bad risk so they can "steer" buyers to the other two in order to get faster inventory turnover - turnover lowers the cost of trade credit / increases the wholesale discount (increases the profit margin).

05-06-2009, 08:28 PM	#7
jack56 Senior Member Join Date: Apr 2009 Location: Tacoma, WA Photos: Gallery Posts: 119 Original Poster	Originally posted by monochrome Part of the reason Pentax is not shown in some camera stores / chains is the lack of trade credit - retailers have to use their own bank credit to buy Pentax inventory. Less reputable dealers will suggest that Pentax is a bad risk so they can "steer" buyers to the other two in order to get faster inventory turnover - turnover lowers the cost of trade credit / increases the wholesale discount (increases the profit margin). That makes sense. He was trying to get me to sell my Pentax on craigslist and buy the Sony they had on sale. And this post/threads got me wondering too: https://www.pentaxforums.com/forums/pentax-news-rumors/26454-pentax-canada-close-down.html .

05-06-2009, 08:39 PM	#8
SteveM Veteran Member Join Date: Jan 2009 Location: Vancouver Island, BC, Canada Photos: Gallery Posts: 3,294	Originally posted by jack56 I was in a Ritz Camera store yesterday and the sales guy, who has been there a few years informed me that Pentax is in trouble and may fold. And why they were not carrying Pentax DLSR's any more. This was in the largest Mall in the NW. Any truth to that? I hope not. I had just bought a new Pentax K110D w/18-55mm last week for $269 from another Ritz store that was closing. Everything was 50% off. I just missed out on the K10D which I really wanted. I was in in the local larger retail store here last week.....and 2 months ago they had reduced their Pentax line on the shelf but now it appears to be larger than Sony (only Nikon and Canon have more space but not by a ton as it used to be). Apparently the K-m is doing OK. Pentax isn't doing "great" here but it is doing OK.....we are influenced by the Asian market which I am presuming pentax is still doing well. I'll be asing them when they expect to get in their first K-7

05-06-2009, 08:59 PM	#9
monochrome Loyal Site Supporter Join Date: Mar 2008 Location: Working From Home Photos: Gallery \| Albums Posts: 26,276	Originally posted by jack56 That makes sense. He was trying to get me to sell my Pentax on craigslist and buy the Sony they had on sale. And this post/threads got me wondering too: https://www.pentaxforums.com/forums/pentax-news-rumors/26454-pentax-canada-close-down.html . So- Ritz Store doesn't have the money to BUY your Pentax as a TRADE-IN and resell it in their used department? Maybe it's because they are BANKRUPT - they really DON"T have the money to buy your camera. I think Pentax was pretty smart in that case. Regarding Canada - look at the date that thread was started - May 2, 2008, and they're still around a year later. Pentax Canada may close down some day, as have some of the smaller divisions in Europe, (to be consolidated in Paris for efficiency) - but not because Pentax is going out of business..

05-06-2009, 09:28 PM	#10
KungPOW Veteran Member Join Date: Nov 2007 Location: Vancouver, Canada Photos: Gallery Posts: 1,699	Pentax just would not be Pentax if they ever lost the "going out of business rumor" Now with Ritz folding, I wonder who will carry the torch? Pentax can be found in all of the camera stores I frequent. It never occoured to me that in other parts of the world, especially in the USA, that Pentax would be a rare beast. Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots.

05-06-2009, 09:36 PM	#11
SteveM Veteran Member Join Date: Jan 2009 Location: Vancouver Island, BC, Canada Photos: Gallery Posts: 3,294	Originally posted by KungPOW Pentax just would not be Pentax if they ever lost the "going out of business rumor" Now with Ritz folding, I wonder who will carry the torch? Pentax can be found in all of the camera stores I frequent. It never occoured to me that in other parts of the world, especially in the USA, that Pentax would be a rare beast. Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots. I used to live in Connecticut.....Ritz was one of those mall outlets.....like Blacks here in Canada....expensive but convenient. I don't know why anyone would buy a body or lens from them.....when you can go down the street (or online) and buy it for 1/3rd the price. Once the mall shoppers dry up so do the sales....

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05-06-2009, 09:42 PM	#12
Damn Brit Guest	Originally posted by jack56 Sorry. I thought general discussions was the correct place to post. I'm new here. I didn't see the News & Rumours. Now I know. I'm glad you've come here with a sense of humour. Enjoy the forum, if you're not sure where to post, you can always PM a Moderator.

05-06-2009, 09:56 PM	#13
jack56 Senior Member Join Date: Apr 2009 Location: Tacoma, WA Photos: Gallery Posts: 119 Original Poster	Originally posted by KungPOW Enjoy you new camera. Go get a 50 f1.4 and blow your friends away with some great low light shots. I can't wait to get a 50 f1.4 lens. In the old days when I had my Nikon FM, Olympus OM1 & Pentax K1000, that was the best lens to start out with.

05-06-2009, 10:33 PM	#14
southy Senior Member Join Date: Dec 2008 Location: Baltimore, MD Posts: 178	Originally posted by jack56 I can't wait to get a 50 f1.4 lens. In the old days when I had my Nikon FM, Olympus OM1 & Pentax K1000, that was the best lens to start out with. Many would argue that it still is It is usually a good first lens to satisfy LBA. It was for me! I have really taken advantage of pentax's vintage primes, especially being on a hobbyists budget,

05-07-2009, 01:41 AM	#15
falconeye Veteran Member Join Date: Jan 2008 Location: Munich, Alps, Germany Photos: Gallery Posts: 6,871	Originally posted by jack56 This was in the largest Mall in the NW. Any truth to that? This is a fair question. Originally posted by Damn Brit You'll be in trouble if you post in the wrong place again. Why? Asking a question is NOT News nor Rumor Originally posted by monochrome Pentax does not offer trade credit to Ritz. Canon and Nikon are holding the bag for $14,000,000 and $26,000,000 respectively to Ritz during the bankruptcy reorganization And this was the fair and simple answer. Ritz doesn't carry Pentax because they couldn't afford it anymore and steer customers away from Pentax. Question. Answer. No rumor. Nothing new.