Confetti Ristorante & Vinoteca, a venture operated by a third generation of family restaurateurs, has filed for bankruptcy protection.
Confetti declared $60,000 in assets and more than $1.9 million in liabilities, in a bankruptcy petition filed on Dec. 1.
Company president Constandina “Dina” Paximadakis evaluated alternatives, according to a corporate resolution filed on Dec. 15, but determined that Chapter 11 bankruptcy reorganization “is in the best interests of the LLC.”
Zachary Renta, a loan broker who helped Dina and her brother, Yanni, obtain a U.S. Small Business Administration loan, says on his website that the Paximadakises learned the business by working in their father’s restaurant for 30 years. After their father, Nikolas, retired, they waited seven years for the right opportunity.
They found Confetti, on Ash Street in Piermont, a block away from the Hudson River. In April 2022, the restaurant’s corporation, NYC of Piermont LLC, was formed.
Confetti’s menu features charcuterie, brick over pizzas, pastas, Italian entrees, paninis and burgers. The fan favorite, according to its website, is country style chicken with sausage, peppers, potatoes, onions and sweet-and-sour sauce.
The restaurant made $600,000 in 2024.
Now, among Confetti’s debts , are $830,000 owed on the SBA loan, $230,000 for unpaid New York sales taxes, and $36,000 to the landlord. Merchant Capital Source, a California company that funds small businesses in exchange for a percentage of future revenues, has filed a claim for $161,895.
The only declared assets are $10,000 in cash and $50,000 for restaurant equipment.
Confetti is apparently still open for business.
“Join us on New Year’s Eve!” its website implores diners. And don’t forget February and March: National Pizza Day, Valentine’s Day, National Margarita Day, International Women’s Day, and St. Patrick’s Day.
Confetti is represented by Nyack attorney Robert Lewis.
