This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7558895.stm

The article has changed 6 times. There is an RSS feed of changes available.

Version 1 Version 2
'No money' for Wrapit customers 'No money' for Wrapit customers
(about 2 hours later)
Customers of collapsed wedding gift list operator Wrapit are unlikely to get any money back from the business, the administrators have confirmed.Customers of collapsed wedding gift list operator Wrapit are unlikely to get any money back from the business, the administrators have confirmed.
They said that funds were unlikely to be available to customers without presents, as well as Wrapit's staff and its suppliers.They said that funds were unlikely to be available to customers without presents, as well as Wrapit's staff and its suppliers.
No buyer has been found for the business which ceased trading on 4 August, owing millions of pounds.No buyer has been found for the business which ceased trading on 4 August, owing millions of pounds.
Some 55 of the 73 members of staff have now been made redundant.Some 55 of the 73 members of staff have now been made redundant.
Remaining presentsRemaining presents
The remaining staff are staying on for a short period of time to deal with newlyweds who have presents ready for them in the warehouse. These couples have received letters telling them that they have presents to collect.The remaining staff are staying on for a short period of time to deal with newlyweds who have presents ready for them in the warehouse. These couples have received letters telling them that they have presents to collect.
But this process has not been without its problems after the telephone service provider pulled the line to the warehouse on Monday. It has now been reconnected.But this process has not been without its problems after the telephone service provider pulled the line to the warehouse on Monday. It has now been reconnected.
Some newlyweds held a protest last weekSome newlyweds held a protest last week
Staff will also take calls on the helpline for concerned couples without their presents.Staff will also take calls on the helpline for concerned couples without their presents.
But administrators Jane Moriarty and Myles Halley, of KPMG, said that the majority would now not receive any of their gifts.But administrators Jane Moriarty and Myles Halley, of KPMG, said that the majority would now not receive any of their gifts.
About 2,000 have been waiting to see if they will receive any of their presents.About 2,000 have been waiting to see if they will receive any of their presents.
Administrators study the state of a business when they are called in. They oversee the sale of assets to pay back creditors.Administrators study the state of a business when they are called in. They oversee the sale of assets to pay back creditors.
The bank - HSBC in this case - has first claim on the money, with unsecured creditors, such as customers, staff and suppliers, at the back of the queue.The bank - HSBC in this case - has first claim on the money, with unsecured creditors, such as customers, staff and suppliers, at the back of the queue.
"At this stage we do not consider funds will be available for distribution to unsecured lenders," said Mr Halley."At this stage we do not consider funds will be available for distribution to unsecured lenders," said Mr Halley.
ClaimingClaiming
That means customers who paid for gifts by cheque or debit card will not receive any money back. That means most customers who paid for gifts by cheque or debit card will not receive any money back.
Customers who paid by credit card can claim from their card supplier, although this is only absolutely guaranteed if they spent more than £100. Customers who paid by credit card can claim from their card supplier, although this is only absolutely guaranteed if they spent more than £100. Those who spent less or used a Visa debit card will be considered for a refund on a case-by-case basis.
Wrapit vouchers cannot be used anymore and refunds for faulty goods can no longer be refunded.Wrapit vouchers cannot be used anymore and refunds for faulty goods can no longer be refunded.
Trading standards officers said customers should formally register as a creditor, by writing to the Wrapit administrator KPMG at 8 Salisbury Square, London, EC4Y 8BB.Trading standards officers said customers should formally register as a creditor, by writing to the Wrapit administrator KPMG at 8 Salisbury Square, London, EC4Y 8BB.
They should outline details of the gift and where it was bought.They should outline details of the gift and where it was bought.
Wrapit was co-founded by former fashion journalist Pepita Diamand in 2000, but failed to make money. It owed HSBC £3.5m when it collapsed.Wrapit was co-founded by former fashion journalist Pepita Diamand in 2000, but failed to make money. It owed HSBC £3.5m when it collapsed.
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.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.
The administrators will release more information about Wrapit's failure in eight weeks.The administrators will release more information about Wrapit's failure in eight weeks.
The helpline number is 0844 770 1301.The helpline number is 0844 770 1301.