Wrapit: no refunds

Newlywed couples and their wedding guests are unlikely to receive money or undelivered presents from collapsed online gift company Wrapit, administrators confirmed this week.

KPMG said it "did not consider funds would be available" for unsecured creditors, including gift-less couples, staff and suppliers.

A full report into the company's failure would be published within the next eight weeks, said the administrator.

Wrapit ceased trading and went into administration last week. Many of its 2,000 customers were Jewish.
Fifty-five members of staff have now been made redundant by the administrators, but 18 workers have been retained.

They will continue to work at the company's warehouse in Acton, West London, where a number of gifts allocated to couples are still waiting to be collected.

    Last updated: 1:55pm, August 14 2008