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Ryness Bankruptcy=W Hollywood Sales Shuffle

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Amid fears of Pollo Loco and Six Flags getting hit, here's your daily this-company-just-filed-for bankruptcy report: A couple of weeks ago a company named Ryness, a large sales and marketing company based in Danville, California filed for bankruptcy. The relevant news is that Ryness is the company that employ sales staff in places like the Hollywood W and San Pedro's Vue ie Ryness employees are the people that actually sell you that condo. A while back, Ryness had sales staff working in downtown's South Park, too. So what's going to happen now? For starters, meet CADO. That's a new sales and marketing company, formed out of a group of ex-Ryness top executives, according to Catherine Nicholas, one of CADO's founders. "We are in conversations with the clients formerly served by Ryness," she tell us, adding that she has a verbal agreement to take over sales at the W Hollywood residences (although the two-person sales team will still stay the same). CADO will be located in San Diego and serve Southern California. Gatehouse Capital Corp., the developer of the W Hollywood developers, would only issue the following statement regarding the Hollywood W sales team: "We are currently negotiating an amended agreement with a third party regarding the internal administration of sales operations. We have not experienced (nor do we expect to experience) any disruption from the unfortunate deterioration at Ryness, to whom we wish the best. We will not comment publicly on the status of any active negotiation or the parties of such negotiation."
· Ryness Company Declares Bankruptcy [Big Builder Online]

W Hollywood

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