NORFOLK, Va. (WAVY) — A former Norfolk bridal shop owner and her husband have successfully filed for bankruptcy for more than $4.4 million in debt, including unpaid taxes and business loans, court records show.
The April 2018 bankruptcy filing came about seven months after bridal shop owner Maya Holihan suddenly locked the doors to her flagship store, House of Maya, and surrendered the business and its assets to Old Point National Bank.
The August 2017 closure of House of Maya left Old Point National Bank scrambling to pair brides who’d paid for their wedding dresses with gowns that, at times, hadn’t been ordered, 10 On Your Side reported.
Old Point National Bank auctioned off nearly $2.3 million in House of Maya inventory in September 2017. Virginia Beach builder and developer Anthony Cataldo purchased the merchandise for $150,000 and hinted at plans of creating a bridal business of his own.
10 On Your Side has spent more than a year digging into Holihan’s finances, discovering court documents within weeks of House of Maya’s closure that showed the business owner owed $230,000 to former employees, American Express, and landlords in Virginia Beach, Norfolk, and Suffolk where she’d run other bridal boutiques.
A year ago, 10 On Your Side also discovered court documents that confirmed that Holihan owed more than $750,000 to Old Point National Bank of Phoebus for a business loan taken out in February 2015 under the operating company Maya Couture, LLC.
At nearly $1 million in debt, the story wasn’t over. 10 On Your Side has now obtained court documents that show the total amount Holihan and her husband owed in personal and business debt, credit cards, individual loans, and unpaid taxes exceeded $4.4 million.
The Holihans’ bankruptcy case was finalized in December 2018, discharging them from the liability of all of their debt except $16,487 that was paid to the Internal Revenue Service. That sum is only a fraction of the more than $280,000 the couple owed in unpaid state and federal taxes, court documents show.
The couple also paid $2,787 to a bankruptcy trustee who helped settle the case for them, according to court documents.
Other notable debts that the couple were discharged from include a $255,000 promissory note for a business debt with BB&T, a $20,000 unsecured loan taken out with Navy Federal Credit Union, $4,000 in unpaid utility services with Dominion Energy Virginia, and several individual loans, court documents show.
Not all of the debts are related to Holihan’s business operations; however, many of the larger sums of money were listed as business debts or are the result of broken leases for commercial rental spaces where Holihan once operated her businesses, court documents state
10 On Your Side reached out to Holihan for comment, but did not hear back from her by the time of publication.