Farepak cheques sent out to customers
29 Sep 2009, Kevin Reed, AccountancyAge
http://www.accountancyage.com/aa/news/1775184/farepak-cheques-sent-customers
Liquidators from BDO Stoy Hayward have sent out cheques to Farepak customers, three years after the Christmas savings business collapsed.
Nearly quarter of a million pounds has been sent to 5,900 customers, reports the Press Association.
The cheques were for customers who made payments on or after 11 October 2006, following a court ruling.
However those who placed orders before that date are expected to receive just 5p in the pound. Claims worth £38m were made by 122,000 customers.
Farepak's parent company European Home Retail went into administration in October 2006.
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Visitor comments
Daylight robbery by Farepak
Not only have I and thousands of people had ours lives previously shattered by the callapse of Farepak in Oct 2006 right on top of Christmas, but we then have to wait 3 yrs to find out that we are being taken for a ride again! I think it is a complete insult that after losing £740 paid between Jan 06 & early Oct 06, that if I am to receive any monies back, this will be the equivalent of £37 = 5p in every £. To me this is an absolute insult, when the Director of Farepak was & probably still is, sitting on a 75 million nest egg. Legal & fair, I think not. I hold not only Farepak responsible for all our losses, but the Courts for not pursuing full payments to all customers and the Goverment for not enforcing it. This is our great legal system!
Posted by: Mrs. Shauna Birch , 29 Sep 2009 | 00:00