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Confetti "optimistic" about finding a buyer

Published: 31 August 2010
Update from administrators reveals that a sale could be on the cards for the online wedding business.
While no further details are known at this stage. A spokesperson for RSM Tenon explained that there has been "quite a lot of interest" in the wedding retail business. He added that the team are "quite optimistic of a positive outcome".

Confetti went into administration on Friday, August 13 just 24 hours after it was bought by The Hut Group for £600,000.

Administrator RSM Tenon, who announced an "urgent search for a buyer" at the time, moved quickly to close the retailer's five stores "in order to focus on the established online business". 48 of Confetti's 94 employees have also been made redundant.

A closing date for interested parties to contact RSM Tenon was extended until 5pm today. RSM Tenon confirmed that talks are ongoing but that a timescale cannot be given on how long it will take to reach a deal.

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