Wrapit calls in administrators

Wrapit has appointed administrators after efforts to rescue the business failed.

The company recently said it had fallen into financial difficulty, blaming the credit crunch and problems in the retail market. KPMG partner Jane Moriarty said: “Despite the directors’ best efforts to secure a rescue deal, they were left with no alternative but to cease trading the business with immediate effect and to put it into administration. “We are seeking a buyer for the business and its assets, albeit for a limited period.”

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