In the News - Wedding Presents

Anger as Wrap-It founder opens new wedding gift company

BBC London reported last night that the founder and some members of staff of the failed, online wedding present company, Wrap-It, have launched a new company called Please & Thank You. This has upset couples, who never received their wedding presents after Wrap-It went into administration last summer ('In the News' on 5 Aug 08).

New laws brought in by the current government mean companies can write-off debts by going into adminstration without having to go to court, which has speeded up and reduced the consequences of administration.

Please & Thank You were quick to point out that they are separate to Wrap-It, set up with new money, and that the founder lost his money and house. But the practice of writing-off debts and then re-emerging as a new company doing the same or similar business is likely to continue to cause distress to customers who lose out. In February, BBC South reported another example where some customers had lost life savings in the collapse of Breakaway Homes ('In the News' on 12 Feb 09).

(Sources: BBC London 23 March 2009)

Posted by Plebble Admin at 10:23 on 24-Mar-2009