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Thousands of wedding gift customers to lose out
CUSTOMERS of collapsed wedding list firm Wrapit are unlikely to get any money back from the business, administrators said today.
KPMG said it "did not consider funds will be available for distribution" to Wrapit's unsecured creditors, including tens of thousands of customers as well as suppliers and staff.
The company ceased trading on August 4, leaving an estimated 3,000 couples waiting for their gifts. A buyer for the business has not been found, KPMG said, resulting in 55 of 73 staff losing their jobs.
The administrator said around 800 of the couples would get "some" of their presents, with the remainder unlikely to receive anything at all.
That would leave most of the 100,000 guests who have bought presents with nothing to show for their gift.
Around 80 per cent of purchases were bought with a credit or Visa debit card and should be eligible for a refund through the card provider, Wrapit's managing director disclosed in an email to customers last week.
Those who bought with cheques, Switch or Maestro cards are likely to lose out.
Wrapit, which was co-founded by former fashion journalist Pepita Diamand, bought and sold its wedding list items, with the aim to deliver them within eight to 12 weeks of the list being closed.
As well as its online operations it also had showrooms nationwide, including in Harrogate.
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Saturday 11 February 2012
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