By Jason Theodorou
Wedding supplies business Confetti has gone into administration with the loss of 94 jobs.
Manchester based wedding and celebrations supply company Confetti has gone into administration. Administrators RSM Tenon have closed shops in Glasgow, Leeds, Birmingham, London and Reading — but an online version of the store will continue to operate.
Confetti grew to have a mail order division, and launched the award winning website www.confetti.co.uk. The website, which is used by 8 million people, continues to operate.
The Manchester company has lost 48 of its 94 staff, retaining some staff to support the online business and provide administrative services. RSM Tenon want to find a buyer for the company before 5pm next Monday. They said that August 23 was the earliest closing date for offers.
Joint administrator Kenny Craig said: ‘Confetti is a very high-profile, market-leading online brand, and enjoys a large customer base. The business has 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’.
‘We would urge interested parties to make contact in the next day or two, to ensure that they have a chance to bid for the business’.