The former directors of European Home Retail (EHR), the parent company of collapsed savings club Farepak, are still owed just under £80,000 according to administrators from PricewaterhouseCoopers .

Reports in The Guardian indicate that the news emerged after PwC arranged the first creditors' meeting for European Home Retail .

Former EHR chief executive William Rollason, former finance director Chris Hulland, and Sir Clive Thompson, the former chairman, are all owed money.

However, the directors are unlikely to see a penny of the £80,000. Group bank HBOS is still owed £32m and Farepak is owed more than £54m. The sale of EHR's non-Farepak subsidiaries for £34m in October 2006 will not cover all the debts.

Further reading:

Farepak customers could swamp PwC meetings

Farepak loans 'nothing to do with audit'

BDO and DTI to investigate Farepak collapse