Wedding vendors don't often go out of business while they still have events on their books, but it does happen occasionally and can lead to big disappointments for their clients. The best thing you can do is be proactive and solution oriented, and quickly find a vendor who can replace you or original choice. Here's how you can deal with this unexpected change seamlessly and effectively.
Consult your contract.
Before you do anything else, look at the contract you signed and see how it addresses this scenario. The most important thing to look for? Whether they have any obligation to provide a refund of your deposits. Nine times out of ten, this would result in a refund, but there may be some protections in place if the reason the company is going out of business is due to serious illness, death, or some other life-changing circumstance.
Look for solutions.
While it's perfectly normal and understandable to be disappointed and emotional about this news, the sooner you come up with a solution the more at rest you'll feel about the whole ordeal. It's likely that you found a few vendors in your initial search that you felt would be good fits for your wedding. Contact them as soon as possible to see if they're available, or if they can recommend anyone with a similar aesthetic.
Ask your vendor to recommend another vendor.
While your vendor isn't obligated to fix this problem for you, they may have a good contact they can refer you to who does similar work or has a similar style. If this was a vendor you had a good relationship with up until now, they'll probably be happy to help sort this out so that you can still accomplish everything you'd planned for your wedding day.
Chat with your other vendors.
Your wedding vendors need to know if another major vendor is backing out so they can plan accordingly. Be sure to let them in on the news, and you may want to ask them for recommendations for replacements as well.
Recognize that this is the worst-case scenario for your vendor, too.
Whether your photographer has decided to take a hiatus due to a death in the family, your caterer has declared bankruptcy, or your wedding planner has suddenly been diagnosed with a terminal illness, the reason your vendor has decided to go out of business is likely to be the result of a significant event. While it's still important that they honor the terms of your contract regarding cancellation, a little empathy can go a long way here. Your wedding will still be spectacular in the end, so keep your sights on that and you should be able to jump through this hurdle with grace.