Owners of a bankrupt wedding and event center in Cottage Grove have agreed to sell the property for $2.24 million to a pair of Minnesota wedding photographers.
The Historic John P. Furber Farm filed Chapter 11 bankruptcy in June, the second wedding venue owned by Wayne and Angela Butt to encounter financial woes this year. The Butts’ Circle B wedding barn in Isanti abruptly closed in April, leaving several couples with cancelled nuptials and no refunds.
The Butts have agreed to sell the Cottage Grove property to a newly formed company owned by Brad and Louise Madison of Chisago City, court records filed last week show. The Madisons plan to continue running it as a wedding and event center.
“Louise and I have had a desire to open a wedding venue after working in the wedding industry as photographers,” Brad Madison said. “It’s just something we thought was a natural evolution.”
In June, the Furber Farm and an associated company owned by the Butts, GFY, filed for Chapter 11 bankruptcy protection, which allows businesses to continue operating while shielded from creditors’ claims. The property includes an 8,000-square-foot renovated 1940s dairy barn and a 3,000-square-foot addition.
Along with the $2.24 million property deal, the Madisons’ company would pay $50,000 for the Furber Farm’s business assets, court records say. The deal still needs bankruptcy court approval.
Brad and Louise Madison have been wedding photographers for a decade and own Mad Love Photography. They previously worked as theater actors, moving from New York City to Chisago City — Brad’s hometown — around 2012.
Brad and Louise, a native of Great Britain, had been looking at wedding venues to purchase, and Furber Farm hit the market at the right time.