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Wedding gift firm ceases trading Wedding gift firm ceases trading
(about 2 hours later)
Struggling wedding present firm Wrapit has ceased trading after attempts to rescue the business failed. Struggling gift list firm Wrapit has ceased trading after attempts to rescue the business failed.
Two thousand couples could lose out on their wedding gifts and some of their guests may not get their money back.
Administrators KPMG said they were seeking a buyer for the business which handled about 3,000 gift lists a year.Administrators KPMG said they were seeking a buyer for the business which handled about 3,000 gift lists a year.
Wrapit said purchases made on a credit or Visa debit card would be refunded but that those customers using cheque or Switch/Maestro would lose out. Wrapit said purchases made on a credit or Visa debit card would be refunded, but that customers who used a cheque or Switch/Maestro would lose out.
A call centre has been set up to handle concerns from the 2,000 couples and up to 100,000 guests affected by the move. A call centre has been set up to handle customer concerns.
'No choice''No choice'
KPMG said Wrapit was left with no choice but to put the firm into administration after it experienced severe financial difficulties.KPMG said Wrapit was left with no choice but to put the firm into administration after it experienced severe financial difficulties.
This is a total nightmare Wrapit customers tell their storiesQ&A: What can Wrapit customers do? We're so upset that our guests have wasted their hard earned money Danika and David Barber, Wrapit customers Wrapit customers tell their storiesQ&A: What can Wrapit customers do?
"We are seeking a buyer for the business and its assets," said Jane Moriarty of KPMG restructuring."We are seeking a buyer for the business and its assets," said Jane Moriarty of KPMG restructuring.
A KPMG spokesman said that Wrapit owed just under £3.5m to its main creditor HSBC. The firm had never made any money in six years of trading, he added.A KPMG spokesman said that Wrapit owed just under £3.5m to its main creditor HSBC. The firm had never made any money in six years of trading, he added.
KPMG said customers who believed they may be owed money should call 0844 7701301. KPMG said customers who believed they may be owed money should call 0844 7701301, although some BBC News website readers said they had problems getting through.
'Gutted' Distress
Wrapit helped couples to compile their gift lists and allowed their guests to buy the items online through their website. It would then purchase and deliver the items to the happy couple. Wrapit helped couples to compile their gift lists and allowed their guests to buy the items online through their website. It would then purchase and deliver the items to the married couple.
Ciara Barr and her husband Travers closed their gift registry with Wrapit in February and she said they had not received any of the £700 worth of presents ordered by their wedding guests. Ciara Barr and her husband Travers closed their gift registry with Wrapit in February. She said they had not received any of the £700-worth of presents ordered by their wedding guests.
"We're gutted," she said."We're gutted," she said.
"All our guests bought things that would've had sentimental value," she added."All our guests bought things that would've had sentimental value," she added.
The firm's managing director Peter Gelardi apologised for the distress caused to customers. Wrapit's managing director Peter Gelardi apologised for the distress caused to customers.
He said the the firm had fought hard to keep Wrapit in business and find a "white knight" to rescue it.He said the the firm had fought hard to keep Wrapit in business and find a "white knight" to rescue it.
 'Devastated'
New bride Georgina Fletcher contacted the BBC to say that she was "absolutely devastated" by Wrapit's decision to call in the administrators.
"It sounds as though we have no hope of receiving any of the gifts, many of which were paid for by cheque so credit card refunds will in many cases be useless," she said.
Wrapit customers Danika and David Barber got married in June and closed their gift list about 10 days ago.
They are now contacting all their guests to ask them to try to get their money back.
"We're so upset that our guests have wasted their hard earned money, and we're left with none of the reminders we thought we would have over years to come."
Wrapit was co-founded by former fashion journalist Pepita Diamand in 2000.
It wanted to take on big names such as John Lewis and Debenhams with a huge database of gifts to choose from.
As well as its central warehouse in Acton, west London, the firm has two London showrooms and others in Aberdeen, Beaconsfield, Belfast, Birmingham, Bristol, Canterbury, Darlington, Glasgow, Harrogate, Manchester, Newbury, Newcastle and Norwich.
Are you a Wrapit customer? Have you contacted their call centre? Were you waiting for your wedding presents? Send us your experiences using the form below:Are you a Wrapit customer? Have you contacted their call centre? Were you waiting for your wedding presents? Send us your experiences using the form below:
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