(verb) to fix something, (normally in a hospitality venue), but in a really tacky, down-market or shoddy way. Often done using gaffer tape (aka Ritz tape), or just by trying to carefully arrange the malfunctioning object so it looks vaguely passable for use in the workplace, or with customers.
(adjective) something that has been Ritzed, or has the appearance of having been Ritzed, ie is rickety or broken or just hanging together by a thread.
(Derived from an ironic reference to the high-class Ritz chain of hotels).
Cory: "Hey Nick, another one of these damn trestle tables has splintered, check out this big chunk that some derro ripped off"
Nick: "Doesn't matter man, we need to get this all sorted. Ritz that shit up"
Cory: "With gaffer?"
Nick: "Yeah man. It's in the safe."
Cory: "All done mate"
Nick: "Nice. That shit is hella Ritzy".