It has been confirmed today that Confetti, the UK's leading online wedding and celebrations supplies business and with a turnover of c£5.7m has fallen into administration.
An announcement is now available on the website of RSM Tenon, the administrators. RSM Tenon have urged interested parties to contact the Recovery Team within the Edinburgh office of RSM Tenon on 01312218820.
The administrators have announced an urgent search for a buyer indicating an early closing date for offers set for 5pm on Monday 23rd August. RSM Tenon have confirmed that the five retails stores have been closed in order to focus on the established online business.
Joint administrator Kenny Craig who is a director with RSM Tenon in Glasgow 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."
The statement highlights that 46 jobs of the 94 staff will be retained to support the online business and to provide key administrative services.
Our wedding blog over the weekend highlighted concerns of brides on the Confetti website forum as news was beginning to break and this has continued today with brides frustrated with long waiting times to get through on the Confetti helpline.
A large number of suppliers have also been effected, some have highlighted their plight on Twitter, Facebook and other social networking sites. Some have even stated that they will fulfil orders placed through Confetti even though they themselves have not been paid.
There has been no statement from The Hut Group who were reported as having purchased Confetti and I Want One of Those from Findel last week for £0.6M.
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