1. There's no redress: what's done is done, and what's lost is lost, and no amount of crying and regret can change that.
2. I freely admit that I have done you wrong: I apologize, and will gladly undertake any form of redress that you name.
Redress is: "relief from distress" redress = re address the situation and make remedies for what was done wrong dress again (redress) is the remedy for nudity REDRESS=RE+dress. So 're' is a prefix which means afresh. Since all the clothes have been burnt in the fire accident, you redress, i.e. get dresses afresh for which you were paid a SUM OF MONEY AS COMPENSATION FOR YOUR LOSS.