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Hamilton Spectator
25-05-2025
- Business
- Hamilton Spectator
Hamilton couple out $8,000 deposit after wedding venue closes
Thomas Coleman and Alina Raposo have been counting down the days until their wedding reception at The Grand Olympia for more than a year. The Hamilton couple paid their $8,253 deposit, had a food tasting in March and hosted Raposo's bridal shower at the Stoney Creek venue in late April. Nothing seemed amiss. 'Everything just seemed so normal,' said Coleman in an interview, adding that they chatted with the venue about plans for the reception. 'No one seemed concerned.' Until last Friday, when Coleman and Raposo saw a post on Facebook about Orchard Park Secondary School students needing to book a new venue for their prom that night, as the parent company of The Grand Olympia, along with Michelangelo Banquet Centre, had gone into receivership . Both of the banquet centres shut down late last week , after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay debt. Michelangelo Banquet Centre and The Grand Olympia were shuttered indefinitely after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay the debt. According to court records, the two banquet halls and their related companies are owned by a Mississauga-based family that owes more than $14 million to the Bank of Montreal, including around $8.2 million tied to Michelangelo and $6 million for Grand Olympia. Aftab Elahi, listed as the sole officer and director of Mario's Catering Service and Grand Olympia Realco, the parent companies of the banquet halls, did not respond to an email from The Spectator on Thursday requesting comment. Calls to both venues also went unanswered Thursday afternoon. The ripple effect has been considerable, with the indefinite closures affecting events booked by non-profits, industry groups, high school students and soon-to-be married couples, like Coleman and Raposo, whose reception was booked for June 21. Coleman told The Spectator he reached out to the venue on May 16, and the couple later received an email from management describing the situation as 'a period of operational transition,' adding that the venue was 'not in bankruptcy.' The email, shared with The Spectator, noted that the company was working to 'stabilize and strengthen' its services and to restore operations, with the 'goal of resuming all events at full capacity as soon as possible.' The couple also reached out to their event co-ordinator, and she repeated similar talking points. Coleman said they didn't hear from the venue again until Tuesday evening, when they got an email claiming the business was 'headed in the right direction' and 'on track to be back in operations soon.' But Coleman said that message contradicted what he'd heard from others about the situation with the venues, including when he reached out to MSI Spergel — who has been appointed as the receiver over both banquet halls. In an email, also shared with The Spectator, MSI Spergel told Coleman on Wednesday that all events at both venues 'are cancelled' — the first notification of such, not even from the venues. With their wedding reception just a month away, Coleman said the couple spent last weekend calling venues across Hamilton and as far away as Mississauga to try and rebook their event — and they weren't alone. Locks were placed on the gates of Michelangelo Banquet Hall last week after its parent company was put in receivership. 'Dates for June were booking up very quickly for people who were left scrambling,' Coleman said. 'It was a lot of pressure for people not wanting to hold out too long waiting, which could have meant potentially losing out on our date that we had.' Luckily, the couple was able to rebook their reception at Carmen's on Stone Church Road East, not far from their original venue, but still at a significant cost. Carmen's Group CEO PJ Mercanti told The Spectator their sales and operations team was working to accommodate events, including some planned for the weekend the venues shut down. Coleman explained that they will likely lose their $8,253 deposit paid for The Grand Olympia, and with some extra costs associated with Carmen's, the venue debacle will end up setting them back roughly $19,000. MSI Spergel also told Coleman in an email that 'currently there is no claims process,' noting that returns of deposits will be 'dependent on the net realizations under the Receivership and subject to evaluation of all claims, including claims of secured creditors and priorities at law.' 'That's a tough thing to swallow, especially four weeks before our wedding day,' said Coleman. But with their reception rebooked and only some administrative work to do with notifying guests and vendors, Coleman is hopeful the couple is back on the right track and can enjoy their day, despite the unexpected hurdles. 'Getting the new venue was the first kind of sigh of relief,' said Coleman. 'Obviously, there is still the financial thing, but we just have to keep pushing forward.'
Hamilton Spectator
25-05-2025
- Business
- Hamilton Spectator
Hamilton couple will likely lose $8,000 deposit after wedding venue closes
Thomas Coleman and Alina Raposo have been counting down the days until their wedding reception at The Grand Olympia for more than a year. The Hamilton couple paid their $8,253 deposit, had a food tasting in March and hosted Raposo's bridal shower at the Stoney Creek venue in late April. Nothing seemed amiss. 'Everything just seemed so normal,' said Coleman in an interview, adding that they chatted with the venue about plans for the reception. 'No one seemed concerned.' Until last Friday, when Coleman and Raposo saw a post on Facebook about Orchard Park Secondary School students needing to book a new venue for their prom that night, as the parent company of The Grand Olympia, along with Michelangelo Banquet Centre, had gone into receivership . Both of the banquet centres shut down late last week , after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay debt. Michelangelo Banquet Centre and The Grand Olympia were shuttered indefinitely after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay the debt. According to court records, the two banquet halls and their related companies are owned by a Mississauga-based family that owes more than $14 million to the Bank of Montreal, including around $8.2 million tied to Michelangelo and $6 million for Grand Olympia. Aftab Elahi, listed as the sole officer and director of Mario's Catering Service and Grand Olympia Realco, the parent companies of the banquet halls, did not respond to an email from The Spectator on Thursday requesting comment. Calls to both venues also went unanswered Thursday afternoon. The ripple effect has been considerable, with the indefinite closures affecting events booked by non-profits, industry groups, high school students and soon-to-be married couples, like Coleman and Raposo, whose reception was booked for June 21. Coleman told The Spectator he reached out to the venue on May 16, and the couple later received an email from management describing the situation as 'a period of operational transition,' adding that the venue was 'not in bankruptcy.' The email, shared with The Spectator, noted that the company was working to 'stabilize and strengthen' its services and to restore operations, with the 'goal of resuming all events at full capacity as soon as possible.' The couple also reached out to their event co-ordinator, and she repeated similar talking points. Coleman said they didn't hear from the venue again until Tuesday evening, when they got an email claiming the business was 'headed in the right direction' and 'on track to be back in operations soon.' But Coleman said that message contradicted what he'd heard from others about the situation with the venues, including when he reached out to MSI Spergel — who has been appointed as the receiver over both banquet halls. In an email, also shared with The Spectator, MSI Spergel told Coleman on Wednesday that all events at both venues 'are cancelled' — the first notification of such, not even from the venues. With their wedding reception just a month away, Coleman said the couple spent last weekend calling venues across Hamilton and as far away as Mississauga to try and rebook their event — and they weren't alone. Locks were placed on the gates of Michelangelo Banquet Hall last week after its parent company was put in receivership. 'Dates for June were booking up very quickly for people who were left scrambling,' Coleman said. 'It was a lot of pressure for people not wanting to hold out too long waiting, which could have meant potentially losing out on our date that we had.' Luckily, the couple was able to rebook their reception at Carmen's on Stone Church Road East, not far from their original venue, but still at a significant cost. Carmen's Group CEO PJ Mercanti told The Spectator their sales and operations team was working to accommodate events, including some planned for the weekend the venues shut down. Coleman explained that they will likely lose their $8,253 deposit paid for The Grand Olympia, and with some extra costs associated with Carmen's, the venue debacle will end up setting them back roughly $19,000. MSI Spergel also told Coleman in an email that 'currently there is no claims process,' noting that returns of deposits will be 'dependent on the net realizations under the Receivership and subject to evaluation of all claims, including claims of secured creditors and priorities at law.' 'That's a tough thing to swallow, especially four weeks before our wedding day,' said Coleman. But with their reception rebooked and only some administrative work to do with notifying guests and vendors, Coleman is hopeful the couple is back on the right track and can enjoy their day, despite the unexpected hurdles. 'Getting the new venue was the first kind of sigh of relief,' said Coleman. 'Obviously, there is still the financial thing, but we just have to keep pushing forward.'
Hamilton Spectator
24-05-2025
- Business
- Hamilton Spectator
Couple out thousands after wedding venues close, cancelling all events
Thomas Coleman and Alina Raposo have been counting down the days until their wedding reception at The Grand Olympia for more than a year. The Hamilton couple paid their $8,253 deposit, had a food tasting in March and hosted Raposo's bridal shower at the Stoney Creek venue in late April. Nothing seemed amiss. 'Everything just seemed so normal,' said Coleman in an interview, adding that they chatted with the venue about plans for the reception. 'No one seemed concerned.' Until last Friday, when Coleman and Raposo saw a post on Facebook about Orchard Park Secondary School students needing to book a new venue for their prom that night, as the parent company of The Grand Olympia, along with Michelangelo Banquet Centre, had gone into receivership . Both of the banquet centres shut down late last week , after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay debt. Michelangelo Banquet Centre and The Grand Olympia were shuttered indefinitely after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay the debt. According to court records, the two banquet halls and their related companies are owned by a Mississauga-based family that owes more than $14 million to the Bank of Montreal, including around $8.2 million tied to Michelangelo and $6 million for Grand Olympia. Aftab Elahi, listed as the sole officer and director of Mario's Catering Service and Grand Olympia Realco, the parent companies of the banquet halls, did not respond to an email from The Spectator on Thursday requesting comment. Calls to both venues also went unanswered Thursday afternoon. The ripple effect has been considerable, with the indefinite closures affecting events booked by non-profits, industry groups, high school students and soon-to-be married couples, like Coleman and Raposo, whose reception was booked for June 21. Coleman told The Spectator he reached out to the venue on May 16, and the couple later received an email from management describing the situation as 'a period of operational transition,' adding that the venue was 'not in bankruptcy.' The email, shared with The Spectator, noted that the company was working to 'stabilize and strengthen' its services and to restore operations, with the 'goal of resuming all events at full capacity as soon as possible.' The couple also reached out to their event co-ordinator, and she repeated similar talking points. Coleman said they didn't hear from the venue again until Tuesday evening, when they got an email claiming the business was 'headed in the right direction' and 'on track to be back in operations soon.' But Coleman said that message contradicted what he'd heard from others about the situation with the venues, including when he reached out to MSI Spergel — who has been appointed as the receiver over both banquet halls. In an email, also shared with The Spectator, MSI Spergel told Coleman on Wednesday that all events at both venues 'are cancelled' — the first notification of such, not even from the venues. With their wedding reception just a month away, Coleman said the couple spent last weekend calling venues across Hamilton and as far away as Mississauga to try and rebook their event — and they weren't alone. Locks were placed on the gates of Michelangelo Banquet Hall last week after its parent company was put in receivership. 'Dates for June were booking up very quickly for people who were left scrambling,' Coleman said. 'It was a lot of pressure for people not wanting to hold out too long waiting, which could have meant potentially losing out on our date that we had.' Luckily, the couple was able to rebook their reception at Carmen's on Stone Church Road East, not far from their original venue, but still at a significant cost. Carmen's Group CEO PJ Mercanti told The Spectator their sales and operations team was working to accommodate events, including some planned for the weekend the venues shut down. Coleman explained that they will likely lose their $8,253 deposit paid for The Grand Olympia, and with some extra costs associated with Carmen's, the venue debacle will end up setting them back roughly $19,000. MSI Spergel also told Coleman in an email that 'currently there is no claims process,' noting that returns of deposits will be 'dependent on the net realizations under the Receivership and subject to evaluation of all claims, including claims of secured creditors and priorities at law.' 'That's a tough thing to swallow, especially four weeks before our wedding day,' said Coleman. But with their reception rebooked and only some administrative work to do with notifying guests and vendors, Coleman is hopeful the couple is back on the right track and can enjoy their day, despite the unexpected hurdles. 'Getting the new venue was the first kind of sigh of relief,' said Coleman. 'Obviously, there is still the financial thing, but we just have to keep pushing forward.'
Hamilton Spectator
19-05-2025
- Business
- Hamilton Spectator
2 Hamilton banquet halls placed in receivership, clients scramble to find alternatives
Two popular Hamilton banquet halls have been placed in receivership as a bank looks to recoup millions of dollars in unpaid loans, potentially leaving scores of charity events and weddings in limbo. Michelangelo Banquet Centre and The Grand Olympia were shuttered indefinitely late last week after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay debt. No events were held at either location over the long weekend with the doors at each locked. 'These premises and all of the property herein are now in the possession of the receiver,' read a letter taped to the front door of Grand Olympia at 660 Barton St. in Stoney Creek. 'Entry or removal by unauthorized persons is prohibited.' According to court records , the halls and their related companies are owned by a Mississauga-based family which owes more than $14 million to the Bank of Montreal, including around $8.2 million tied to Michelangelo and $6 million for Grand Olympia. Aftab Elahi — which corporate documents list as the sole officer and director of Mario's Catering Service and Grand Olympia Realco, the parent companies of the banquet halls — didn't respond to request for comment. Michelangelo Banquet Centre and The Grand Olympia were shuttered indefinitely late last week after Ontario's Superior Court of Justice denied a request from its owners for an extension to repay debt. While the halls were placed in receivership on Jan. 29, the appointment order was delayed to allow the owners to make a real estate transaction that would've been 'an amount sufficient to repay the bank in full,' court records state. The proposed transaction was scheduled to close by April 30. On May 15, a person representing the Elahi family asked the court for another 45 days to finish the sale. The Bank of Montreal argued against that extension 'based on a number of concerns.' 'The bank is concerned that there is no current timeline for repayment in full that is supported by evidence of an ability to complete, and the bank has significant concerns regarding the financial circumstances and management of the respondent companies,' the bank said in court records. In an endorsement decision, Justice Jessica Kimmell declined to vary the appointment order and wrote she wasn't satisfied there was 'a supported justification for granting further accommodation.' Locks were placed on the gates of Michelangelo Banquet Hall last week as its parent company was put in receivership. MSI Spergel has been appointed receiver over both banquet halls. What that means for people who had booked future events at Michelangelo and Grand Olympia — and paid deposits — remains unclear. Spergel couldn't be reached for comment Sunday or Monday. 'It came as a surprise to us,' said an event organizer with CollectiCon, a local toy and collectible show that's held monthly events at Michelangelo on Upper Ottawa Street for decades. After hearing the news — and seeing the gate to the venue locked — event organizers had to scramble to find a new location for their Victoria Day show, eventually landing space at Carmen's Event Centre. 'Carmen's really came through for us,' the organizer said. CollectiCon wasn't the only one. Weddings, retirement dinners, community fundraisers and school events like grads and proms were among the affected Michelangelo and Grand Olympia clients who reached out to Carmen's this weekend in a desperate effort to book space. 'Our sales and operations teams have been working diligently and mobilized in real time to accommodate the event customers, which included a handful this weekend and another half-dozen or so in the coming week,' Carmen's Group CEO PJ Mercanti said in a statement. 'Our operations teams have been especially attentive with purchasing food, ordering linens and scheduling staff on short notice.' Mercanti extended his sympathy to hospitality staff and suppliers affected by the abrupt banquet hall closures. 'Especially our many colleagues at Michelangelo, who we have enjoyed a positive working relationship with for many decades.' Michelangelo was incorporated in 1977 and Grand Olympia in 2021, according to receivership records. The records don't specify when Elahi family became involved with the businesses. Court documents state the Bank of Montreal extended Grand Olympia a $7.8 million loan in December 2019 and $8.2 million to Michelangelo in December 2022. Both fixed-rate loans had terms of five years. In its application to place the halls in receivership on Nov. 28, the Bank of Montreal said it had been supervising accounts tied to the borrowers 'for a considerable period of time' due to concerns 'about the financial health of the underlying businesses and the performance of the (borrowers') credit facilities.' 'As a result of such concerns, together with various defaults on the part of the borrowers … the bank determined it no longer wished to continue the banking relationship with (them),' the bank said in its application.
