The UK’s leading retail and online wedding and celebrations supplies business, Confetti, has gone into administration.
The Manchester-based business provides an extensive range of merchandise and services for weddings and celebrations, ranging from invitations and wedding dresses through to venue hire, gifts and insurance.
Set up in 1999, the company has a mail order division, website and five high street stores. The administrators, RSM Tenon, have now closed the stores – in London, Glasgow, Birmingham, Reading and Leeds – in order to focus on the online business.
With a turnover of around £5.7m, the company employed 94 staff. Just 36 jobs are being retained to support the online business and provide key administrative services.
A buyer is now urgently sought for the business, the administrators having set an early closing date for offers of next Monday, August 23.
Joint administrator Kenny Craig said: “Confetti is a very high-profile, market-leading online brand and enjoys a large customer base. The business has great potential for further development, and the administration presents an outstanding opportunity for a retail business or entrepreneur to acquire an immediate presence in the wedding and celebrations market.”
Confetti’s website receives nearly 8m hits a month and won the Best Wedding Website category in the BT Online Excellence Awards. The administrators say they hope to honour the 1,100 outstanding orders.