Specialist retailer Ritz Camera has won court permission to liquidate the business after failing to find a buyer. In 2009 the retailer’s founding family bought it out of bankruptcy but has since failed to turn the retailer around.

Earlier this month an auction was held with the aim of either selling the retailer to a buyer intending to carry on trading from its remaining 137 stores, or selling the right to liquidate the group through going-out-of-business sales.