Farepak will pay just pounds 20; EXCLUSIVE.Byline: By STEVE HAWKES FAREPAK customers will only get back pounds 20 of their Christmas club Christmas club n. A savings account, as in a bank, requiring periodic deposits to ensure money for shopping at Christmas. savings, it emerged last night. And the families are unlikely to receive it in time for the festive season. Administrators say the finances of the firm, which collapsed in October owing pounds 50million to 125,000 families, will take months to sort out. And all the customers will have to be traced because Farepak only kept their agents' details. Accountants BDO Stoy Hayward BDO Stoy Hayward LLP is a partnership of chartered accountants in the United Kingdom. It is the UK member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. said there is only enough cash to pay 4p or 5p in the pounds 1. That means a customer who saved up an average of pounds 400 will get back just pounds 20. Campaigner Suzy Hall, of www.unfairpak.co.uk, said: "It's better than nothing, but such a small amount when you think about what they saved." The news comes days after Farepak chief Sir Clive Thompson Sir Clive Thompson (born 4 April 1943) (aka Mr 20% or That Unreconstructed Thatcherite[1]) was Chairman of European Home Retail (EHR), a company which went into administration in October 2006, owing money to thousands of members of its Christmas savings jetted off to Argentina on a luxury holiday. BDO Stoy Hayward wants customers to contact it on 0870 0669826. CAPTION(S): AWAY: Sir Clive |
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