Getting married is usually one of the most exciting moments of a couple’s life. But for Victoria Houston, planning her dream wedding suddenly became a financial nightmare.
The Florida bride-to-be had already paid more than $6,300 to lock down her September wedding date at Red Mesa Events in downtown St. Petersburg when she got the news that the venue had suddenly closed its doors.
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Now, Houston is out thousands of dollars and scrambling to find another venue.
“Our deposit was $6,300 and some change,” Houston told Tampa Bay 28 (1). “At this point, we don’t know if we’re going to be getting that money back.”
Can you protect your wedding deposit from bankruptcy?
The closure came after Red Mesa Cantina’s parent company filed for bankruptcy, citing a combination of economic pressures (1), including lingering post-pandemic challenges, hurricane-related disruptions and a slowdown in traffic in downtown St. Petersburg.
Affected couples told Tampa Bay 28 they received an email that says in part, “Our team is currently working directly with all affected guests and is prioritizing communication based on event date order, with the most immediate events being addressed first.” (1)
However, bankruptcy cases can leave customers who paid deposits left on the hook waiting months or even years for answers, and getting the money back isn’t a guarantee.
But there’s one simple step many couples overlook that could make the difference between recovering their money and losing it altogether.
Wedding insurance can provide an important financial safety net when the unexpected happens. Similar to home, auto or health insurance, couples pay an upfront premium in exchange for protection against what could be costly losses. (2)
Depending on the policy, wedding insurance can help reimburse expenses if a wedding is canceled, postponed or disrupted by circumstances that are beyond a couple’s control — including vendor bankruptcy (2).
With the average wedding often carrying a hefty price tag, insurance can offer peace of mind, and help cover you so that a surprise setback doesn’t have to turn your dream celebration into a money mess.
Couples should make sure to carefully review policy language before purchasing wedding insurance, since coverage varies. (3)
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How to protect yourself when booking wedding vendors
According to the Knot data covered by CNN (4), wedding costs have shot up due to tariffs, with roughly one in five wedding vendors raising their costs. A wedding venue is often the largest single expense in a wedding budget, which means protecting your bookings financially is just as important as touring the space or tasting the food.
Here are some practical tips to protect yourself when signing with wedding vendors:
Pay with a credit card if you can. Even if a vendor charges a small processing fee, the consumer protections may be worth the extra cost.
Many couples pay wedding deposits by check, bank transfer or debit card without giving it much thought, but credit cards may actually be the way to go. Under the federal Fair Credit Billing Act, consumers generally have the right to dispute charges for goods or services that were not delivered as promised. (5)
Read the fine print. Make sure you understand any cancellation and refund clauses, and what happens if the venue cancels, closes or becomes unable to host the event.
Research the business. Check online reviews, court filings or Better Business Bureau records to get a feel for if there are any recurring customer complaints. (6)
Avoid paying large balances too far in advance. If your contract allows it, spread your payments out according to milestones instead of paying a huge chunk up front months ahead of time.
For Houston and the other affected brides, the focus now is finding a new venue while hoping they eventually see their money again.
“It’s really heartbreaking,” another bride, Alisson Tello, told Tampa Bay 28, noting that many guests were coming from out of town and had already purchased flights and accommodations. (1)
Your big day isn’t just about finding the ideal venue and the perfect dress. It’s about making sure you protect your investments as best you can.
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Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
Tampabay28 (1); The Knot (2); Consumer Reports (3); CNN (4); Federal Trade Commission (5); Better Business Bureau (6)
This article originally appeared on Moneywise.com under the title: Florida brides are out $6,000+ after their venue went bankrupt — and most couples skip the fix
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
