Will it float or will it sink? Sink! Riviera Pools files for bankruptcy


The Arizona Diamondbacks pool sponsor. Riviera Pools, filed for Chapter 11 bankruptcy protection on Thursday, the latest in a line of valley pool companies to feel the crunch. "We had no idea it was going to get so bad," said Ron Ostlund, owner of Riviera Pools. Riviera Pools could not hold on, and it closed. The company owes 50 to 99 creditors, according to court filings. "We thought we could survive," Ostlund said. "We were downsizing and we've been struggling since April, but it's been getting worse and worse." They were also locked out of their headquarters on Friday, after failing to pay its lease there: the company had only six employees, down from 105 as recently as January. Of course, the team signed as five-year, $1 million deal with the Diamondbacks for naming rights to the pool area before this season. I am thinking the team will not be seeing any money from that going forward. I think we should club together and make them an offer to rename it the AZ SnakePit Pool Pavilion.