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

alwaysbusyMUM

michjoe wrote:

Has anybody used the template letters on the above link? Would it be worth trying them?

I've just printed them off after filling in my details, who knows a letter every week might help, I'm still waiting to hear from my bank regarding the charge back, it will only be £250 but its better than nout.

karren

to the person whom felt so strongly about people whom have been conned by farepak asking for charity!!!
right, firstly we never asked for charity, we just want our money which was taken under false pretences back, we only asked for fair play as this money was used to keep other businesses afloat, please do a bit of research before you judge others!! I do not want charity I want answers and my money back.

trisontana

Who is the above addressed to please?

karren

Feux_Verts wrote:

Hello!!! Agents>need to make money,Managers>need to make money,FAREPAK>was a business.

Whilst I sympathise completely with those who lost out - did they not realise this was a BUSINESS and therefore a risk?

Personally I keep my Christmas cash in a safe - my wife has the other key.

Why pay for some fat cat's lifestyle - it's YOUR money. At worst put it in a BANK!!!!

I certainly won't be donating my TESCO vouchers.

Sorry!!!

please see my other repky!!!!!!!!

karren

I understand that people think unfair farepak is asking for charity, we are only asking for fair play as this company traded under false pretences and they should be investigated for fraud!!!

absoluteutopia

Farepak chief says 'sorry'

The managing director of the collapsed Christmas savings firm Farepak has apologised to his customers.

Nick Gilodi-Johnson said he was "gutted" for the more than 150,000 out-of-pocket people now facing a decidedly un-merry Christmas.

But he hit out at the Halifax Bank of Scotland (HBOS), which he claimed forced Farepak's parent company into receivership by cancelling its overdraft.

Farepak customers across the UK, mainly people on low-incomes, have lost a combined £35 million as a result of the collapse.

Mr Gilodi-Johnson, Farepak's managing director, said in a statement: "What has happened to Farepak and its customers is nothing short of a tragedy.

"The business I ran was healthy and solid, but I am afraid that EHR (European Home Retail) - the overall group which owned it - was not so fortunate and despite our efforts to resolve the situation, it was ultimately forced into receivership after HBOS terminated its long-standing credit facility.

"I honestly thought there was a workable solution which would have safeguarded all our customers' money, but the bank did not agree. I feel its loss with immense sadness as it was a business my father founded and devoted his life to building and strengthening.

"We both cared passionately about it and about the fact that it was able to help so many families through Christmas. The shares in the company my father built are now worthless, but I appreciate that is of no comfort to the tens of thousands of our customers whose Christmas hopes have been dashed by these terrible developments. My family is very sorry that this whole situation has arisen and is devastated by the effect it has had on so many other families and we will be making a donation to the appeal."

He added on BBC Radio Five Live: "I'm really gutted that everybody has lost out like this. I'm really so sorry."

Jim Devine, Labour MP for Livingston, revealed he had asked the Commons Scottish Affairs Committee to formally question both EHR and HSBO about their roles in the company's financial meltdown.

toozie_2

What will Mr. Nick Golodi-Johnson be doing this Christmas? Struggling to find the money to give his family a great day?

I don't think so.........

trisontana

This quote from Mr. Gilodi-Johnson :-
""The business I ran was healthy and solid, but I am afraid that EHR (European Home Retail) - the overall group which owned it - was not so fortunate and despite our efforts to resolve the situation, it was ultimately forced into receivership after HBOS terminated its long-standing credit facility."

He doesn't explain why he used the Farepak account money to pay for the failings of the rest of the EHR empire. This should never have happened. That money should only have been used for its original purpose not to prop up the other ailing companies. So I think the fault lies with him and not with the bank.

emilyj

trisontana wrote:

This quote from Mr. Gilodi-Johnson :-
""The business I ran was healthy and solid, but I am afraid that EHR (European Home Retail) - the overall group which owned it - was not so fortunate


Ye gods - who on earth owned and ran EHR?????

It was HIM!!

itsarichmansworld

A friend who works in a bank explained if you paid your payts with Direct debit you can claim the bank indemnity policy on this. Get Your cash back.
My hearts go out to all effected by this.