Debenhams and Liberty are considering a proposed rescue plan for nearly 3,000 newlyweds left without presents after the collapse of Wrapit, the online wedding gift service.

Both department store groups have been approached about taking part in a voucher scheme in which stores would step in to provide alternative gifts to couples.

Peter Gelardi, Wrapit's former managing director, contacted the retailers yesterday and said he was confident that a solution could be found. “They are interested and I'm fairly confident the stores will want to go with it,” he said. “The question is whether KPMG, the administrators, or HSBC will allow it to happen.”

The move came as it emerged that Pepita Diamand, the founder and retail director of Wrapit, had already been sounded out by investors seeking to acquire the business from the administrators.

Wrapit collapsed on Monday after running out of money and failing to secure a refinancing deal. It was set up eight years ago and allowed guests to buy wedding gifts online from a range of suppliers.

The directors blame HSBC, the company's bank, for withholding credit and debt card income and prompting a cashflow crisis. HSBC insisted that it had no choice but to put Wrapit into administration, given the worsening financial situation at the business.

Angry brides are expected to stage a demonstration outside HSBC's head office in Canary Wharf this afternoon.

Wrapit's demise means that more than 100,000 wedding guests will have to try to reclaim money spent on presents over the company's internet site from HSBC.

Mr Gelardi is furious that the bank is insisting on refunding guests rather than fulfilling outstanding orders. Under his proposed scheme, HSBC would give a couple a voucher equivalent to the value of goods on their wedding list that were yet to be delivered. It could be redeemed in participating stores.

Debenhams said that it was evaluating the proposal.

Mr Gelardi is among 90 full or part-time Wrapit staff who have been laid off by KPMG since Monday.

Despite Mr Gelardi's fury at HSBC, customers have been quick to turn their anger on the company in online forums.

Beth Gordon, a newlywed from London, said yesterday: “Wrapit are the ones who have run this business into the ground, and HSBC have quite rightly protected what funds they could.”

Others have questioned why Ms Diamand went on holiday to Corsica last month when Wrapit's future was in doubt.

Ms Diamand told The Times yesterday that, at the time, she was convinced that a venture capitalist was close to injecting fresh funds. She said that she was considering her options and that she might join a consortium looking to buy the business if the right deal came along.

She added: “People think that I'm a millionairess who waltzes around Africa. I'm not. I had a very small stake in the company and I lent money to the company that was my only inheritance, and I've lost everything.”

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