I feel a little sorry for customers of Wrapit, the wedding gift firm which has gone into administration.
Many who paid on debit cards or by cheque face losing their money, those paying on credit cards should be protected (one of the big advantages of using credit cards for paying for goods and services).
Whilst it is obviously very sad that newlyweds stand to lose it, it is unfortunately a fact of life that businesses go out of business every day – it’s only because this company is the wedding industry that it has become big news, it will no doubt spoil a few couples’ big day.
It’s similar to the Farepak story (the Christmas club which went bust) from a few years ago – it’s sad because some people were unable to give their kids the presents that they wanted, but in the grand scale of things, when banks are threatening to go bust a la Northern Rock, it’s a small matter.
It would appear that Wrapit was never run as a particularly efficient business – handling between 2,500 and 3,500 wedding lists last year, but it had failed to make a profit in the last 6 years.
If you’re unlucky enough to be either one of the 2,000 couples waiting for gifts, or one of the estimated 100,000 wedding guests who have paid for presents, call their enquiries line on 0844 7701301.
photo credit: Phil Romans