Party’s over as wedding firm falls into administration
A STAFFORDSHIRE wedding dress and suit hire business has fallen into administration with the loss of almost 40 jobs.
Tamworth-based Formal Affair Weddings has ceased trading and will enter formal administration in the New Year.
Its nine-strong branch network has closed and 39 staff have been made redundant.
In addition to Tamworth, the company had stores in: Sutton Coldfield, Birmingham and Solihull, as well as Sheffield, Chesterfield, Nottingham, Leicester and Newport.
The company, which was previously bought out of Administration in 2014, following a winding-up petition from HMRC, has struggled in recent times due to changing purchasing habits of customers regarding wedding fashions.
The company has filed a notice to appoint administrators with partners Dean Nelson and Nick Lee, of Midlands-based Smith Cooper scheduled to be appointed early in the New Year.
Mr Nelson, Head of Business Recovery and Insolvency at Smith Cooper, said: “The management of Formal Affair Weddings have continuously attempted to reduce costs and restructure the business in light of current fashion and purchasing trends, however this has proven challenging with the formal and wedding attire market changing considerably over the last couple of years.
“We are currently in the process of assisting the company repatriate its stock to the head office with a view to a closing down sale being instigated in the New Year. Once appointed administrators, we will be in contact with creditors regarding the financial position of the company and dividend prospects.”
Richard Cook, Director of Formal Affair Weddings, said: “Despite working so hard to restructure and support the business over the last couple of years, to make it competitive in light of changing consumer purchasing habits, it is with deep regret that I have had to make the unavoidable decision of closing all stores and making the staff redundant.
“I would like to take this opportunity to thank all staff members for their great service over the years as well as all of our brides and grooms for their valued custom.”
