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

rebl43

I had (or have- think positive:D ) £600 in vouchers. I just cannot believe that the money has gone!
**in denial**

nikkiandmidgets

Just had to tell my mum about this. She pays money in through a work colleague. She is not sure of company but remembers her agent telling her that vouchers\company changed (She is not sure which) earlier this year so I think she is going to be affected. She saves this way because like others she is pants at saving and its the only way she can afford Xmas. I hope people get something back out of this - if they dont then I hope the government does something to ensure this WILL NOT happen to anyone again, cos as usual its always the owrst off this type of thing affects.

boom123_2

I can't tell you how distraught I am!!! Made redundant recently but thought some of xmas cost was in order (£300) now it is in a total mess, my friend who is a single parent is now £400 down, my aunt is an agent is £1000 down personally, never mind her work mates she is really distraught. How can this happen? There must be something we can do, so many people with kids now pulling their hair out stressing about xmas due to this Farepak shambles.

This situation didn't just come about on Friday the 13th it has been snowballing for months. How dare they keep taking payments from agents and customers and then 2 weeks before the vouchers were due to be dispatched go into liquidation? Someone must be answerable for this mess while we try to make up the major loss to to our familys xmas.

Sorry for going on but WHAT A MESS!!! so many of us in the same boat so near to xmas, savings gone what do we do?

pfpf

nikkiandmidgets wrote:

She pays money in through a work colleague. She is not sure of company but remembers her agent telling her that vouchers\company changed (She is not sure which) earlier this year so I think she is going to be affected.

a ray of hope for you!! my sister is a Park Hampers agent. she told me that when she started last xmas it was actually a company called Family Hampers, and Park bought them out around March 2006. so it could be that this is what your mum was on about.

hope so, good luck.



into rant mode:

how the **** can a company that only has to collect money for 9 months of the year, then in month 10 pay out only what it has received less all the interest it has earned and the discount it will get from all the various voucher companies go bust? jeez, i could run that business from my spare room more efficiently.

how the **** can a company go bust 24 hours after it received most agents final payment(10months worth)?

how the **** can a company get away with being so incensative by leaving a disgusting "no goods, no refund" message on a answer machine?

this whole episode smells of fraud on a massive and pre meditated scale.

i feel so sorry for everyone who loses out because of these w**k**s.

i hope there is a happy ending to this one, i am sure there will be...good luck all.

Sparkly

a disgrace really that there was no insurance or bonding scheme for agents and customers cash, like ABTA run for holidays. I can see why some people use hamper companys although I think in part its tradition and getting a bit outdated, but regardless, people who cal ill afford the loss used them in good faith.

toozie_2

Too be honest I've been too 'sick' to post on here today (yesterday now) can't sleep, hence being reading these posts now.

I suppose compared to some mine was a small agency with Farepak, I'd paid up just over £2.5K. £400 of my own, and the rest friends, neighbour, work mates, and family.

I made myself ill earlier this afternoon, before telling tham all, one is a single parent, working part time, with 3 kids, and the father doesn't pay a penny of maintainence.

I would gladly not receive my money back-if I could refund them. Has anyone seen this on the news, I can't believe that thousands of families are affected, and its only been a snippet in the paper.

I too had the email back similar to the earlier poster saying the same thing from the HITA, and will be on the phone tomorrow to them at 9am, if their lines aren't jammed.

With regard to repayment, my thought is that, obviously someone has squandered the money-I mean how many overheads does a company like this have? Not much until they have to sort out the actual purchase of the hamper goods, and despatch them, and the vouchers. I just wonder how much interest they have gained through the year on our payments? Thousands I would guess. Repayment-probaly my customers are near if not, at the bottom of the rung.

The managing director is called Nicholas Johnson (found this on correspondence received earlier this year regarding the fall of Choice vouchers) I wonder if Nicholas is sleeping now........or sitting there worried sick about his customers.....like me????

I have been with Farepak for 15 years, only really started, as I was looking at money making schemes when I was at home looking after a baby and toddler. Just carried on because I had faithful customers, who find it hard to save on their own, without dipping into funds, and of course I had the bit of commision they offered.

One thing for sure, this will sorely affect the business of the other hamper companies, as I for one will never, ever, ever save for vouchers this way again as long as I live. It will probably slightly affect some of the major retailers as well. How many time have you stood in a que at Xmas in Woolworth or Argos, and seen people paying with vouchers in front of you??

I took this from the HITA site

All members shall lodge with the Association a Bond, which shall be renewed annually. The Bond shall be in favour of the Association and be provided by a major Clearing Bank.Members shall provide the Association with a set of their Annual Audited Accounts as soon as they be approved by their shareholders each year so the Association may monitor the financial stability of its members in the interests of that members customers and agents. All members shall conduct their own financial and commercial affairs in a proper manner and in particular shall give due attention to safeguarding customers payments prior to delivery.

Has this happened slowly over the last year? If so why couldn't agents be alerted, and why was farepak not being monitered by the above? Or has someone done a bunk with the monies??

Sorry had to get all that off my chest, I'll try and go back to bed now, as I've got to tell 3 people in work tomorrow

toozie_2

Just done a search under the MD, and found this:

http://www.interfil.co.uk/

Obviously Farpak had to fill their time during the year with other ventures.

Nicholas Gilodi-Johnson, I wonder if this company is still trading?

Sparkly

alas, it seems some warning signs were around at the company who ran Farepak. trading in EHR shares was suspended 23 August, but they first announced financing difficulties on 30 June, because of problems with the voucher provider 'Choice'. They recognised at that date that there would be a problem in autumn (with working capital) and were looking for additional financing, which obviously they did not find. Their website, under corporate responsibility, says "we believe strongly in protecting the rights of our customers and encouraging other businesses in our industry to adopt similarly high standards".

moosetastic

i phoned their helpline yesterday. its just a recorded message that basically says -

We went into administration on Friday 13/10/2006. There will be no deliveries and there will be no refunds. Administrators will be in touch with agents to claim. There is no-one here, the office is now unmanned. Bye!

I think what they have done is tantamount to fraud. All the final payments paid last week and then 24 hours later, this!!

I have emailed Watchdog in the vain hope that they can rescue something out of this mess! If a lot of us email, then maybe they will do something about it.

I myself am totally gutted, have virtually skinted myself all year to pay for this, but at least I knew I was getting money back for Christmas. The worse thing is that this wasn't a scam but supposedly a reputable company.

sandhabibi

This is awful I too will now not be able to buy xmas pressies with my vouchers or use the commision money. I dont have money, gutted and feeling so sick, I've had to text 1 customer the news who is at work where all my customers are, How could the company do this!!!! my last payment was due out on 1st Novemberso cancelled dd now....
I really really hope this will have a good ending....