Closure of two Hamilton banquet halls leaves planners ‘devastated’

Michelangelo Banquet Centre and The Grand Olympia Convention Centre in Hamilton have both closed their doors, leaving those with events in limbo.

Cancelled events, lost deposits and heart-broken community members have been affected as the closure of both banquet halls has come with a lot of headaches.

“I was in shock,” said Jennifer Tapin, someone who had a planned event to be held at The Grand Olympia cancelled. “I was completely devastated.”

Tappin had been planning her daughter’s “Sweet 16” party at The Grand Olympia for months, just to be called Friday morning to be told it was cancelled.

“We found out this horrible news the morning of her event,” said Tappin. “At about 9:30 in the morning, we got a call from the venue saying that ‘for unforeseen circumstances’ they unfortunately had to cancel events all weekend.”

With just hours to find a new venue and to figure out food and drinks for the party, Tappin still managed to pull off a beautiful celebration for her daughter.

The Grand Olympia still has her $1,700 deposit, and Tappin said switching the party cost a lot of extra money too.

“We had to then put out about $2,800 more to find a new venue, get food, and all the things we needed to be able to run the event successfully,” said Tappin.

Both banquet halls have a sign on their doors saying the companies are now in receivership.

“A receivership is a way that a secured creditor, typically financial institutions or anyone who has lent the business money, can really recoup what they are owed,” said Paul Ihnatiuk, a licensed insolvency trustee.

Ihnatiuk says a receivership is different than a bankruptcy.

“Typically, what we do see when a receivership happens, a bankruptcy will follow, but the first step is really that receivership,” said Ihnatiuk.

Ihnatiuk said the receiver will go in and examine the assets of the halls, and they might put them up for sale.

At that point, a new owner might keep the businesses operating as banquet halls.

This might explain why one couple, who asked to not be named, told CHCH News that The Grand Olympia says their summer wedding is still “a go” at the venue.

As for the people who are out money because of the closures, there might be a chance that they will get their deposits back.

“However, if anyone is owed money, they should contact the receiver and notify the receiver that they have a claim,” said Ihnatiuk.

WATCH MORE: Sudden closure of two Hamilton banquet halls leaves clients scrambling