Wrapit, the company, has about run out of money.
Dammit. Like the British need further disincentive to marry. According to This Is Money, a company specializing in wedding gift registry called Wrapit needs more funds to remain solvent. Sucks, but it could be that the company name sounds like a discount condom warehouse. The real losers are the couples getting married. Evidently, some newlyweds have been waiting for gifts since April and the company is no longer taking new money as it sweats this thing out.
Per a spokesman for Wrapit, the company takes 2,500 to 3,500 orders per year but the current fiasco will probably only affect in the hundreds of weddings. Aw man, that is not reassuring. And really the only recourse for the couples that got boned is to get into the line with the rest of the creditors if the company goes teats up.
Maybe we have no idea of how a gift registry is supposed to work but we were under the impression that they collected information from the engaged couple as to which gifts they wanted to receive, displayed information somewhere, and let wedding invitees tick off items, and then ship the gift either to the newly weds home or the purchasers home. Easy, right? But really not much of a moneymaking opportunity. But the name Wrapit implies that they were perhaps wrapping these gifts and acting as a middleman between warehouse and end consumer. Hence their value proposition, we suppose, and the real cost centers of gift wrappers and shipping. That is one dilly of a pickle to be in.
We're sure it will work out. And if not, it'll be like that Christmas when we didn't do gifts and everyone got to know each other better. The article suggests that the company does have some financial recourse for customers. When they make a movie of this we hope that Simon Pegg plays a harried warehouse manager who co-opts all of his friends and family to help him on one marathon weekend of gift-wrapping and delivery. Ricky Gervais could play a venture capitalist whose daughter's wedding is saved by the plucky, ragtag registrar and decides to fund the struggling firm despite it's complete unsoundness as a business.