Wrapit customers miss out on refund
Customers of collapsed wedding list company Wrapit are unlikely to get their money back
KPMG says it is unlikely to consider
making funds available for distribution to Wrapit’s unsecured creditors,
including tens of thousands of customers as well as suppliers and staff.
KPMG, which was called in as administrator of the busines,s has not yet found
a buyer for the business which ceased trading on August 4, leaving about 3,000
couples waiting for their gifts.
The administrator said about 800 of the couples would get ‘some’ of their
presents but the remainder was unlikely to receive anything at all, leaving most
of the 100,000 guests who had bought presents with nothing to show, according to
The
Press Association.
About 80% of purchases, which were bought through credit or Visa debit cards,
should be eligible for refunds through the card provider, but the remaining 20%
who paid by cheque, Switch or Maestro are likely to miss out.
Further reading:
KPMG calls for law change following Wrapit saga