Farepak Hampers

BigAl94

There has been a lot of publicity regarding the alleged dubious nature of the Farepak demise. You might be interested to learn of the connected elements of the group and it might be considered appropriate to avoid them all.

European Home Retail plc is a United Kingdom-based company. The Company operates in three divisions. Catalogue Home Shopping (comprising Kleeneze Europe and Farepak); Internet Retailing (comprising I Want One Of Those.com Limited (IWOOT) and Kitbag Sports Limited (Kitbag)), and Television shopping (TV shopping), which incorporates eeZee tv LLP (eeZee tv). Kleeneze Europe is a network marketing company with 15,500 self-employed distributors operating in the United Kingdom, Ireland and Netherlands. Farepak sells Christmas hampers, gifts and shopping vouchers through independent agents.
It operates in two brands, Farepak and Home Farm. IWOOT is the Internet business selling a range of gifts and gadgets from its Website https://www.iwantoneofthose.com. Kitbag is the Internet sports and leisure wear retailer. Kitbag operates through its Website https://www.kitbag.com. eezee tv broadcasts 14 hours a day of live TV shopping on Sky digital channel 659. On April 1,2005, the Company acquired Kitbag. For the six months ended 31 October 2005, European Home Retail plc's turnover increased 28% to £101.6M.
Net loss attributable to ordinary shareholders totaled £764M, vs. an income of £2.9M. Turnover reflects increased sales primarily due to first time contribution of the internet businesses. Net loss reflects decreasing operating margins due to increased cost of sales, higher selling costs, administrative costs and higher amortisation charges.

I understand European Home Retail Ltd may now have filed for bankruptcy.

leftieM

It's all very sad for the people involved. I can't imagine how it must feel to have your Christmas savings wiped out.