Posted on 22 December 2016
Wedding dress and men’s suit hire specialist Formal Affair Weddings Limited has ceased trading on 20th December, and is to enter Administration in the New Year, having closed all branches with 39 staff being made redundant.
The company, which was previously bought out of Administration in 2014, following a winding-up petition being issued by HMRC, has struggled in recent times due to changing purchasing habits of customers regarding wedding fashions.
Headquartered in Tamworth, Formal Affair Weddings Limited specialised in formal wear for men and bridal ware and operated across 9 branches, all of which have now been closed down by the company.
Formal Affair Weddings Limited 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.
Head of Business Recovery and Insolvency at Smith Cooper, Dean Nelson, commented: “The management of Formal Affair Weddings Limited 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.”
Director of Formal Affair Weddings Limited, Richard Cook, commented: “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.”
All queries should be directed to Megan Campbell and Kelly Whittington at Smith Cooper Derby on 01332 32021 or email@example.com / firstname.lastname@example.org.