The Ryness Company, a sales and marketing consutant to new home builders and developers, announced Monday it has emerged from Chapter 11 bankruptcy. The company went bankrupt under the supervision of the U.S. Bankruptcy Court, Northern District of California nine months ago.
"The Ryness Company recognizes and appreciates the support of all those who've weathered this process with us," said Gary Ryness, who established the Danville, Calif. firm in 1975 and serves as its chairman. Ryness, a member of the California Building Industry Hall of Fame, added, "I believe the last several years has been a historic, extraordinarily challenging time for home builders, developers, their related trade partners and vendors, as well as consumers."As a California-centric company, we're confident in a brighter future for home building and land development--there is record low inventory of new homes, key markets are seeing rising prices and there is an increased level of land acquisition activity as builders position themselves for the long-term."