PATERSON, New Jersey (WABC) — The owners of a popular wedding venue in Paterson have filed for bankruptcy, leaving hundreds of couples scrambling to find a venue for their weddings and small businesses out of workspace.
Ivanna Ramirez and Raymond Romero fell in love with the chic industrial space at the Art Factory in downtown Paterson. They put down a $12,000 deposit for their wedding on Oct. 4.
“I picked this venue out about two years ago,” Ramirez said.
But their plans came to a screeching halt this week.
“So it has been beyond chaotic, we originally found out about the foreclosure through my planner through a news article, we did not find from the owners themselves, it says they filed for bankruptcy,” Ramirez said.
Dozens of brides and grooms just like Ivanna and Ray found out through social media that the venue is in jeopardy, and is in bankruptcy court.
The owner of the business is David Garcia. Eyewitness News interviewed him a few years ago within his sprawling complex of buildings which was brought back to life in 2018 through a loan from the100 Mile Fund.
The Art Factory owners posted on Instagram, placing blame on the lender for foreclosing on the property and “taking your dreams and your money.”
7 On Your Side reached out to the lender, the president of the 100 Mile Fund, Billy Procida.
“This is one of the saddest things I’ve witnessed in my 43-year career, I feel so bad for all of The Art Factory clients. It’s a great venue and it was poorly managed,” Procida said.
He added that “We are simply the lender, we have nothing to do with the decision by the Garsias to file bankruptcy.”
The owner did not respond to a request for comment when 7 On Your Side asked about allegations of mismanaging their business or returning their customers’ deposits.
And Wednesday morning, the owners told clients on their app, “We regret to inform you the company will host no further events.”
Ivanna and Ray were instructed to file a claim for settlement, they also filed a police report in Paterson – but all that doesn’t help with 104 guests coming to a wedding Friday.
They have no hall, no money and nowhere to go.
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