This constitutes to a breach of contract and since you have the contract already signed, visit a lawyer so that you can either repudiate the contract to terminate it and claim damages for loss undertaken. An alternative step would be to get another party to affirm the contract and claim damages.
What does the contract say? A contract is a legally binding agreement between two or more parties. If either party fails to abide by the terms there is legal recourse for the other party. That is what contracts are for.