Farepak victims to be paid - after Christmas

Creditors will receive 5p in the £1, but only in the New Year

Written by Alex Hawkes

Administrators from BDO Stoy Hayward are set to pay creditors of Farepak 5p in the £1, but in a reprise of last year's misery for savers in the Christmas hamper company, they may not even pay that money out until the New Year.

The mid-tier firm is handling the insolvency, and The Observer reported this weekend that its administrators do not expect to be able to pay creditors until the New Year, citing the amount of paperwork involved as the cause of the delay.

Farepak campaigner and Swindon South MP Anne Snelgrove said: 'Clearly, BDO has a duty to ensure all claims are valid, but we must work toward getting the money back before Christmas.'

The news coincides with the release of a report into the collapse of hamper company Farepak, based on interviews with victims.

The report, commissioned by Unison and the Centre for Crime and Justice, is set to be presented to parliament today.

'We have still not had any money back from the liquidators or seen anyone brought to justice,' said Snelgrove.

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