Customers affected by the collapse of Wrapit, the failed online wedding-list service, are unlikely to get any money back from the business, the administrators said yesterday.

Nearly 3,000 couples were left without presents when Wrapit collapsed earlier this month with estimated debts of more than £3 million.

KPMG, the administrator, confirmed that customers would have to reclaim the money owed to them from their credit card company.

Myles Halley, of KPMG, said yesterday: "At this stage we do not consider funds will be available for distribution to unsecured lenders."

KPMG expects to publish a report into Wrapit's demise in October. Sources at the weekend claimed the company was trading insolvently before HSBC, Wrapit's bankers, called in the administrator.

The claim was vehemently denied by Peter Gelardi, Wrapit's former managing director, yesterday.

KPMG confirmed that 55 full-time Wrapit staff had been laid off. A buyer has not been found for the business which stopped trading on 4 August.

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