Vendors canceling? Reception site for sale?

[snuggles1]

I just found out that the restaurant where we are having our reception is up for sale. I don''t even think the wedding coordinator at the restaurant knows about it yet. What happens if the restaurant is sold? Do they have to honor our original reception plans and deposit? Is there wedding insurance out there and does it work? Thanks!

 

[misspinky]

There is wedding insurance out there and I would definitely think about getting it. wedsafe.com is one site you could check out.

 

[snuggles1]

Date: 1/18/2009 7:34:05 PM
Author: misspinky
There is wedding insurance out there and I would definitely think about getting it. wedsafe.com is one site you could check out.

Thanks! Have you used it or know someone who has?

 

[Octavia]

I've played around with Wedsafe and one other (it might have been through State Farm??) and they seem really easy to use. Just plug in the date and various amounts, and it tells you what the premium is. You can probably call for a quote and more info, if what you need isn't listed. I wouldn't wait long to buy the insurance, though, since the restaurant is already up for sale. I'd imagine the new restaurant would either have to honor your contract or, if they won't/can't, your deposits would be refunded -- but I'm certainly not sure of that, and either way, I think it's much better to shell out a couple hundred dollars or less for the relative peace of mind. You might want to start looking for a backup venue too, though.

I'm sorry you have to worry about all of that, I hope it all works out without any problems!

 

[havernell]

This exact thing happened to friends of mine last year! The restaurant/banquet hall they''d booked for their reception was sold to new owners who reopened the place under a new name. The new owners did honor her original contract (kept all the prices and details the same) and they even got a slightly nicer menu than they were originally going to get! So it can work out.

I''m not sure if legally a new owner HAS to honor all existing contracts- perhaps ask a lawyer about this. However, even if they don''t have to legally honor contracts, I would think they''d WANT to honor such contracts to 1) get business (why forgo profit?) and 2) establish/keep a good reputation. Reputation is everything in the restaurant business and if your whole guest list (some of whom the restaurant will assume are locals) hears this venue did not honoring your contract, there go a lot of potential customers.

I would talk to the restaurant manager/current owners as soon as possible to ask if part of the terms of sale of the restaurant includes a clause to honor all existing contracts. Hopefully they''ll be up front with you.

Hope it all works out in the end for you!

 

[neatfreak]

Not sure of the legalities here with the insurance since you already know the restaurant is up for sale, so I would check into it and do it FAST if you are going to. Might be a bit of a similar case as insuring a ring you already lost ya know? So just make sure it would be covered.

 

[snuggles1]

Date: 1/18/2009 10:14:36 PM
Author: neatfreak
Not sure of the legalities here with the insurance since you already know the restaurant is up for sale, so I would check into it and do it FAST if you are going to. Might be a bit of a similar case as insuring a ring you already lost ya know? So just make sure it would be covered.

Hmmm. You're prob right that if I know then I prob can't buy the insurance. Since I don't know if it's the restaurant for sure, it's prob better I don't find out. They don't list an address or business name. They have a couple photos and it looks like it but I don't know for sure. AND it says on the ad "Do not disturb employees" so I don't even know if the employees know about it. I'll get the insurance fast. Thanks!!!!!!!!!

 

[neatfreak]

Date: 1/19/2009 2:43:34 AM
Author: snuggles1

Date: 1/18/2009 10:14:36 PM

Author: neatfreak

Not sure of the legalities here with the insurance since you already know the restaurant is up for sale, so I would check into it and do it FAST if you are going to. Might be a bit of a similar case as insuring a ring you already lost ya know? So just make sure it would be covered.

Hmmm. You''re prob right that if I know then I prob can''t buy the insurance. Since I don''t know if it''s the restaurant for sure, it''s prob better I don''t find out. They don''t list an address or business name. They have a couple photos and it looks like it but I don''t know for sure. AND it says on the ad ''Do not disturb employees'' so I don''t even know if the employees know about it. I''ll get the insurance fast. Thanks!!!!!!!!!

Yes, don''t find out anything else until you figure out the insurance situation! Best of luck, I hope it works out seamlessly for you!

 

[dcgator]

Snuggles: I would highly reccomend insurance in this situation. In addition to wedsafe, you should check out wedding insurance through the fireman''s fund. They appear to have a bit more comprehensive insurance at a comparable price to wedsafe.

As far as the restaurant is concerned, if they have not notified you of anything and they haven''t given you notice of such changes, they you really don''t know anything for sure.

I would go ahead and get the insurance just in case something might happen, since that is what insurance is for, right?

Good luck!