Wedding gift firm Wrapit has blamed the HSBC bank for putting it’s business in administration, despite owing the bank around £3.5million.
Wrapit was formed in 2000 by former fashion journalist Pepita Diamand and trades from fifteen showrooms and a website, the administration puts 100 jobs on the line.
Despite the protestations of Peter Gelardi the head of Wrapit, claiming that the bank had acted improperly and could have saved themselves one million pounds by allowing the company to fulfill current orders, the fact remains that the business has shown a loss for the last six years.
So enraged is Gelardi that according to a report in the Daily Mirror, he has urged customers to lobby the HSBC and has published e mail addresses for some of the banks executives.
The statement from Gelardi reads:
“Having precipitated the fall of Wrapit, 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. But will not take it,” he said.
“As it will also cost HSBC £1m less than the refund option, you would think that this would be the obvious way forward.
“I’m afraid to tell you that HSBC, true to form, don’t agree.”
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