Online wedding supplier Confetti goes into Administration
Hundreds of engaged couples are facing a last minute panic today at the news that Confetti, one of Britain’s leading online weeding suppliers, has gone into administration.
Confetti.co.uk sold everything from wedding stationery to decorations and tiaras and has been relied upon by many brides to add the finishing touches to their special day.
The supplier had nearly 8 million users and annual sales of around £6m. Its collapse has come as a surprise to its staff, the website had been considered a growing star and was only last week sold alongside Iwantoneofthose.com for £600,000 to The Hut Group, an online retailer that runs websites for Asda, Tesco and Argos.
Administrators are hoping to find a buyer for the firm by 5pm next Monday.
Reported in the Sun, Joint administrator Kenny Craig 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.”
Luckily the online wedding insurance offered by the company is handled by a third party and policies are unaffected- which will come as a great relief to some of the affected brides as they attempt to recover costs form the failure.
Many couples are turning to internet forums for the latest news but the lack of information coming out is causing multiple headaches.
In these uncertain times the financial failure of wedding suppliers is a growing concern. Planning a wedding is a huge financial investment and it is a good idea to take out Wedding Insurance to insure your supplier deposits and reduce some of the worry. Make sure you cover your supplier deposits, wedding attire and more with www.my-weddinginsurance.co.uk. You will receive a 20% online discount and can choose from one of the set package policies or even create your own.
