One of the area’s best-regarded marketing companies is closing after 15 years. Renaissance Creative President Tim Hamby announced last month that his company had become a victim of the market’s downturn.
“The sudden collapse of the real estate market was a significant shock to our system that required painful downsizing coupled with a complete, capital-intensive diversification of our client base,” Hamby wrote clients in an email. “And while we had made substantial progress and continued to grow on these fronts, unfortunately, after giving it our most sincere best efforts, the fixed overhead associated with our now 8-member team, combined with the continuing challenges of the larger economy, left us with little alternative.”
At its peak, according to Hamby, the company employed 27 with a gross of $15 million annually.
Hamby said that his partner, Ed Bondi, would continue to service accounts.