Wrapit goes under gracelessly

I've covered the debacle at Wrapit thus far, so it seems fitting to add the inevitable final post that Wrapit has now curled up its toes and gone into administration. In the past couple of days I've had a couple of inquiries via this blog from journalists covering the story looking for case studies. As a result a good friend of mine was on Channel 4 News last week talking about Wrapit's demise.

The whole thing has been an exercise in how not to do PR. A horrible situation for customers played out, incredibly, to a soundtrack of the world's smallest violin, playing just for Wrapit's directors.

Unable to apologise suitably for their shoddy service or their part in the downfall of Wrapit, the company's directors are still pointing the finger of blame elsewhere and playing the part of the victims. An email from the company's MD today claimed: "There are two questions that are probably in your mind. The first is 'How did Wrapit get into this situation... The short answer to the first question is that when big banks change policies, little companies sometimes get squashed..."

But remember, before talk of 'squashing' wins your sympathies, banks have no vested interest in putting successful businesses - small or otherwise - out of business.

The email adds: "...having precipitated the fall of Wrapit, HSBC now have it within their power to minimise the pain caused to 2,000 couples... and, as things stand, they will not take it."

The email goes on to urge customers to turn their ire on HSBC and even provides email addresses for some of the bank's workers (...this despite Wrapit's earlier, unconvincing concern for the Data Protection Act).