Farepak in administration: What to do? (Merged Thread)

HopeElizzy

MSE_Martin wrote:

Am I? No one told me!

Martin

(im being serious!)

JV said you were on at 11:30 when he was on Ken Bruce's programme and as we all love JV and he never gets things wrong he must've known you were going to ring in!:rotfl:

tryhard_2

max clifford on bbc 2 working lunch had some suggestions too

rickuk99

max clifford on bbc 2 working lunch had some suggestions too

and ther were?

zsazsa_3

chrisandrob wrote:

Do you think everyone has to claim seperatly then,?I sent in a claim on behalf of myself and my customers,Would have thought that was the way to go

My claim was sent in on behalf of myself and my customers also. I personally thought it was easier to claim that way as all the payments have been made by me as "agent". I think customers could claim on their own if they wanted to.

zsazsa_3

http://www.sfo.gov.uk/cases/guidance.asp

I have written to the Serious Fraud Office as well see link above. Everything stinks of Fraud so i guess these are the guys to investigate it!

Teresa60

I received this email today from freedom (who I had been saving with). I emailed them with my account number and details:

"Farepak Food & Gifts - In Administration

Thank you for your email. Unfortunately, due to the volume of the emails received, I hope you understand that it is not possible at the present time for the Joint Administrators to reply individually to all emails.

If you have forwarded details of your claim, these will be noted. At this time, I would ask that you do not send original documentation to us; we will write to you to request this is due course.

The Joint Administrators will be reading all emails and will be updating the website shortly to answer as many frequestly asked questions as possible.

Thank you for your patience at this time.



For and on behalf of
Farepak Food & Gifts Limited"

twisteruk

my friend came over to tell me i wasnt going to get my vounchers she was my agent and looking at her face really hit me knowing how good friends we are it was so hard to tell me ,i gave a big hug and said its not your fault dont worry about it . i told her good friends are hard to find and money comes and goes ,, yes i was upset .. and my daughter felt really guilty as well knowing she had got her vouchers from a drifrent company ,am a single parent and had harder times befor ,, am so greatfull my kids are a lot older and understand ,, i really feel sorry for thoses who have small children as its hard to explain and maybe hard for them to understand,

RedBooties_2

real1314 wrote:

Radio 2 : 12:00-14:00
edit: and you can "listen again" via the radio 2 website

If you're like me and don't want to install the crudware that is Real Player*, you can download VLC Player. Install it, hit Ctrl-N or select File -> Open Network Stream and
enter the following in the 'Customize' field:

rtsp://rmv8.bbc.net.uk/radio2/r2_vine_fri.ra

hth

Edit: Oh yeah, and very sorry for being off-topic here. Just thought this may be helpful for some who want to listen to this. I can't add anything useful to the Farepak situation.

michjoe

Just been on ebay and seen Father Christmas letters costing £1.75 (buy it now) all money being donated to Farepak hamper customers.

emilyj

Two things I wanted to say.

Firstly, HITA has to explain how it can give the impression that member companies have a bond in place with them which gives realistic protection to customers of its members, when it it does no such thing.

It should also come clean about the fact that three of its members are in the same Group (Park Hampers, Family Hampers and Country Christmas Savings Club) and the other two were closely related (Farepak being part-owner of Home Farm).

Secondly, the timing of the crisis was largely dictated by HBOS. They have to protect their own interests, and they have taken the decision that those interests were best served by refusing the extra borrowing facility at this moment.

By refusing the extra required for complete fulfilment of Farepak's commitments, the whole of the £70 million of Farepak customers's cash was available to meet their own debt.

If they had provided what was needed (it's hard to know what this was, but my guess is that it was round £10 million over the limit already agreed), then that £70 million would not have been available.

At least three of the parts of EHR are profitable -Kleeneze is highly profitable. But it is currrently gobbling cash in expanding into Europe; EEZETV is still not at break-even, and Farepak was struggling with the Choice voucher problem as well as the tendency for customers to save for vouchers rather than hampers, which have a very low profit margin.

So looking at it, HBOS decided that £70 million in the hand last week was a better deal for them than increasing their exposure to a Group which was unlikely to show substantial overall profits for some time to come.

The question is - did Farepak act illegally in continuing to take money from Farepak customers after August 23 and not making sure that money was ring-fenced from Group finances.

Sadly, I think it will turn out that this was not illegal - though it seems highly immoral to me.