Wedding website Confetti in administration

SPECIALIST wedding website Confetti has been put intoadministration, a week after it was bought by online retailer The Hut Group.

Middleton-based Confetti’s five retail shops in Glasgow, Leeds, Birmingham, Reading and London have been closed by administrator RSM Tenon, with 48 job losses, but the website remains open.

The loss-making business has a turnover of around £5.7m. RSM Tenon said 46 staff had been retained “to support the online business and provide key administrative services.” Its website receives around eight million hits a month.

The administrator said it is now “urgently” seeking a buyer for the remaining business with a closing date for offers set as next Monday, August 23.

The Hut Group, which is based in Northwich, bought Confetti as part of a package of three businesses which were sold by Findel Group last week for £600,000.

The others were Findel Direct and gadget website iwantoneofthose.com. The latter is believed to have been the business that The Hut Group saw as its key target.

In the year to April 2, the combined businesses reported an operating loss from continuing operations of £3.6m and a pre-tax loss of £13.8m

Joint administrator Kenny Craig, director at RSM Tenon 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.

“We would urge interested parties to make contact in the next day or two to ensure they have a chance to bid for the business.”