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Wednesday August 6th 2008
Wrapit puts voucher deal to Department stores
Archived article dated Wednesday August 6th 2008
Debenhams and Liberty have been approached regarding a voucher scheme where stores would provide alternative wedding gifts to couples.
Peter Gelardi, Wrapit's managing director, had been in contact with the retailers yesterday and said he was confident that a solution could be found. “They are interested and I'm fairly confident the stores will want to go with it,” he said. “The question is whether KPMG, the administrators, or HSBC will allow it to happen.” Wrapit entered administration after failing to secure funding.
Gelardi claimed that the cost of getting all the gifts to couples was £1 million less than the refund charge but that HSBC had refused to co-operate. "HSBC now have it within their power to minimise the pain caused to 2,000 couples (and, probably, 100,000 of their guests) and ensure that no Wrapit customer loses any money - and, as things stand, they will not take it. "The only thing that will get them to change their minds is public pressure," he said.Customers angry at the collapse are to protest outside the HSBC's hq.
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