Confetti administrator upbeat on sale
THE administrator of wedding website Confetti is optimistic that it will find a new owner soon.
Kenny Craig of RSM Tenon was appointed to the loss-making Manchester company by The Hut Group, the online retailer which acquired Confetti and gadget website www.iwantoneofthose.com for £600,000 from listed home shopping group Findel last week.
Mr Craig said: “Confetti is a really well known brand in the market place and while nothing is certain, I am optimistic that a buyer can be found – we believe it has a lot of potential.
“The business was marketed for several months by Findel, so there was already some interest, which has grown since our appointment.”
He said there had been “between 15 and 20” expressions of interests in Confetti, which employs 46 people at its base in Middleton.
The business, which had a turnover of £5.7m and receives around eight million hits a month, also had five high street stores which were shut down by the administrator upon appointment.
Mr Craig said he’d prefer a quick sale of the assets and has set a deadline for offers at August 23, but he said this could be extended.
The Hut Group, which is based in Northwich, Cheshire, has not commented on the administration.
