There were casualties. Internet wedding gift company, Wrapit, went into administration in August 2008, leaving over 2,000 newlywed couples without gifts on the big day. Wedding guests lost an estimated £700,000.
And the fall-off in nuptials continues to take its toll on British businesses. Last week another wedding business went into administration. Wedding planning and supplies business Confetti was forced to close its stores in Glasgow, Leeds, Birmingham, Reading and London and make over half of its 94 staff redundant on Friday due to mounting debts.
Founded in 1999 by David Lethbridge and Andrew Doe, Confetti claimed a substantial chunk of the wedding market, turning over £5.7m last year. The e-commerce arm Confetti.com was receiving over eight million hits a month. But when private equity firm Findel Group decided to offload sister business Iwantoneofthose.com to the Hut Group for £600,000, the new owners saw no future for the Confetti brand.
Now, administrators RSM Tenon are hoping to find a buyer for the chain. Kenny Craig, director with RSM Tenon in Glasgow, told The Daily Mail: "The administration presents an outstanding opportunity for a retail business or entrepreneur to acquire an immediate presence in the wedding and celebrations market."
If you've got some cash to flash, the deadline for bids closes on 23 August. But caveat emptor, marriage rates continue to drop to new lows; you may have to start a sideline in funerals. After all, nothing is certain but death and taxes.