Brides scramble after popular wedding Paterson venue files for bankruptcy
According to court papers, the bankruptcy came from a Superior Court judgment issued in August against the owners involving a $12.5 million loan.
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Dozens of brides are left with thousands of dollars out of their pockets and the uncertainty of whether their weddings will happen after the Art Factory in Paterson – a popular wedding venue - filed for bankruptcy and the property is being foreclosed on.
The venue announced the news on social media pages without much warning.
According to court papers, the bankruptcy came from a Superior Court judgment issued in August against the owners involving a $12.5 million loan.
The owners were to provide rent and fees from events to the lender, 100 Mile REIT Inc.
However, Billy Procida, the head of the investment group, tells News 12 that he hasn't been paid in over a year.
Since the announcement, more than 20 brides have reached out to News 12, with concerns, many of whom have upcoming weddings with no venue to hold them in.
"I gave them everything I had and trusted them and they're not honoring the contract we signed and so this is really heartbreaking,” said Angelica Negron, who is getting married in 18 days.
"Just be honest and let us know, are we able to have the wedding or are we not able to have the wedding so we can make other arrangements. Don't keep us in the dark and not tell us what we should do," said Marisa Norman, who is getting married on Oct. 13.
News 12 has reached out to the owners of the Art Factory but has not heard back.
Procida says the property will go to auction.
It's unclear if upcoming weddings will be taking place.
