Wrapit Plc (In Administration)
Jane Bronwen Moriarty and Myles Antony Halley from KPMG were appointed joint administrators of Wrapit PLC (in administration) on 4 August 2008.
Any customers, guests, suppliers or any other interested parties with any queries should call the following help line: 0844 770 1301
Any customers, guests, suppliers or any other interested parties with any queries should call the following help line: 0844 770 1301
What happened to the Company?
The Company has entered administration as a result of the difficult trading conditions that it has been experiencing. Due to the company’s financial position, the administrators have taken the decision to cease trading for new lists with immediate effect.
Although the Company will cease to trade effective immediately, it is the Administrators’ intention:
To consider whether allocated stock can be released;
To obtain control of the customer database and all relevant information to assist in reconciling customer and creditor claims; and
To consider whether the company and / or the business can be sold;
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
Although the Company will cease to trade effective immediately, it is the Administrators’ intention:
To consider whether allocated stock can be released;
To obtain control of the customer database and all relevant information to assist in reconciling customer and creditor claims; and
To consider whether the company and / or the business can be sold;
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
Wrapit owes me goods from my wedding list that have been paid for by guests. When will they be delivered?
The Administrators are currently assessing which stock has been allocated to customers and will be doing everything they can to deliver allocated goods in the warehouse that have been paid for in full and specifically allocated to the customer over the next two weeks. You will be contacted if such goods specific to you are held.
If the Company does not hold goods specifically allocated to you, then it is not in a position to fulfil in total the wedding list.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
If the Company does not hold goods specifically allocated to you, then it is not in a position to fulfil in total the wedding list.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
I have paid for gifts on a wedding list that have not been delivered. Will they still be delivered?
The Administrators are currently assessing which stock has been allocated to customers and will be doing everything they can to deliver allocated goods in the warehouse that have been paid for in full and specifically allocated to the customer over the next two weeks.
If the Company does not hold goods specifically allocated to your purchase, then it is not in a position to fulfil in total the wedding list. Your wedding couple will be contacted if such goods specific to your purchase are held.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
If the Company does not hold goods specifically allocated to your purchase, then it is not in a position to fulfil in total the wedding list. Your wedding couple will be contacted if such goods specific to your purchase are held.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
Can I collect my goods from the Wrapit warehouse?
If you are contacted by the Administrators confirming that you have goods available for collection, an appointment will be made for you to attend the Wrapit warehouse. We are not open on weekends. The address is Wrapit, Unit 34-40 Brunel Road, London. W3 7XR.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
I have paid for gifts on a wedding list that will not be delivered. Can I get my money back?
As the Company is insolvent and no longer trading it is not in a position to provide refunds directly. You should contact your card company to discuss your options.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
I have Wrapit vouchers / honeymoon vouchers, can I use them?
Regrettably Wrapit vouchers are no longer valid and cannot be redeemed. You may write to the administrators to register yourself as an unsecured creditor at the following address:
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Unfortunately at this stage, we do not anticipate funds being available for unsecured creditors. However, a full report on the progress of the administration and the prospect for unsecured creditors will be available within the next 8 weeks.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Unfortunately at this stage, we do not anticipate funds being available for unsecured creditors. However, a full report on the progress of the administration and the prospect for unsecured creditors will be available within the next 8 weeks.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
What about warranties or repairs for faulty products?
Wrapit does not provide warranties or repairs for faulty goods nor, due to being insolvent, can it arrange for replacement goods. You may write to the administrators to register yourself as an unsecured creditor at the following address:
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Unfortunately at this stage, we do not anticipate funds being available for unsecured creditors. However, a full report on the progress of the administration and the prospect for unsecured creditors will be available within the next 8 weeks.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Unfortunately at this stage, we do not anticipate funds being available for unsecured creditors. However, a full report on the progress of the administration and the prospect for unsecured creditors will be available within the next 8 weeks.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
My Card Company requires a letter confirming that the goods will not be delivered.
Please write to the administrators at the following address and we will do what we can to assist:
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
The Administrator
Wrapit PLC
c/o KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
I am owed money for supply goods. Will I be paid? Can I get my goods back / claim Retention of Title?
The administrators are not empowered to agree or pay the claims of unsecured creditors and, in order to avoid incurring unnecessary costs, it is not intended to respond to routine queries. However, it will assist the directors to prepare an accurate statement of the company’s affairs if you will forward a statement of your account to me made up to 3 August 2008.
If you consider that you have a preferential claim or if you intend to claim a lien, retention of title or any other form of security, you should advise me of your claim immediately in writing and forward any relevant supporting documents.
If you consider that you have a preferential claim or if you intend to claim a lien, retention of title or any other form of security, you should advise me of your claim immediately in writing and forward any relevant supporting documents.
Can I take legal action?
Paragraph 43(6) of Schedule B1 to the Insolvency Act 1986 ''...no proceedings and no execution or other legal process may be commenced or continued, and no distress may be levied, against the company or its property except with the consent of the administrator or the leave of the court....'' The joint administrators do not consent to any action that you may have commenced or may be contemplating.
As you are aware, the Company is now in administration and therefore its actions are strictly governed by UK insolvency law. As agents of the Company, appointed by the High Court, it is now our duty to ensure that all unsecured creditors are treated the same. UK insolvency law states that an individual unsecured creditor of the Company cannot be preferred and paid independently of others within that class. Consequently, we are unable to make any level of payment to you individually or to any other unsecured creditor.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
As you are aware, the Company is now in administration and therefore its actions are strictly governed by UK insolvency law. As agents of the Company, appointed by the High Court, it is now our duty to ensure that all unsecured creditors are treated the same. UK insolvency law states that an individual unsecured creditor of the Company cannot be preferred and paid independently of others within that class. Consequently, we are unable to make any level of payment to you individually or to any other unsecured creditor.
Please note that customers should not seek to resolve any issues at their local stores as the stores have been closed and all issues are being dealt with centrally.
I am a shareholder of Wrapit. Will I receive any money / are my shares worth anything?
We can see no prospect of any funds being available for distribution to shareholders. It follows that in our view the shares have no value. You may wish to consider making a negligible value claim to offset any taxable capital gains that you may have; however you should discuss this with your financial adviser. The administration does not have the funds to maintain the share register and accordingly share transfers cannot be registered via the administration.
Is it true that the financial difficulties were caused by HSBC blocking card payments and holding £1 million of Wrapit's money?
The Administrators are aware that Wrapit had been struggling for some time (the company has made losses for a number of years) and had been seeking funding from other sources but without success. The Administrators have a duty to produce a report to creditors within 8 weeks and this report will give further details of the events leading up to the Administration of Wrapit. The Bank has advised that it regrets the failure of the company but it had taken professional advice and believes it acted wholly appropriately in the circumstances.