http://www.farepak.co.uk
Hi all!
Some of you may of seen in the news that Farepak one of the if not largest companies of it's kind has gone into liquidation!!! grr
Its a company set up to cater for all your christmas needs, they do vouchers, hampers and can cater for the whole christmas setup. The company was founded in 1981 and has been very succesfull in creating this well known voucher scheme. Every year for about the past 3 years at Sam's work, both Sam, myself and many other staff members have contributed towards the monthly voucher scheme.
Sam and myself have just lost £1,000 for this year. We usually use the vouchers to buy christmas presents and gifts for ourselves through the january sales and buy bits for the house.. :down:
There is very little chance if any of seeing any return on our £1,000, we may see some of the money back in months to come when the business is all broken down and assets shared out, but it won't be much if any at all.
The company apparently used the finances to invest in shares and it's lost out very heavily. The thing that really gets me is that they knew about this in July and could have pulled the plug straight away. We where due to get our vouchers this week!!! They have delayed and delayed it with the intention to get in as much money as possible, just 2 months more and they could have pushed the company through into 2007 and then gone into liquidation!
The figures have been estimated at the following:
34,000 agents
124,000+ customers
putting in average of £400 each, some even upto £2000 each
Total amount estimated to be a least £68,000,000 and could even reach £90,000,000 whichis going to be stripped from the economy at Christmas time, can you imagine the impact this will have on business!
It's not really sunk in yet, we only found out yesterday literally 2 days before our vouchers where to be issued!
Kev
Hi all!
Some of you may of seen in the news that Farepak one of the if not largest companies of it's kind has gone into liquidation!!! grr
Its a company set up to cater for all your christmas needs, they do vouchers, hampers and can cater for the whole christmas setup. The company was founded in 1981 and has been very succesfull in creating this well known voucher scheme. Every year for about the past 3 years at Sam's work, both Sam, myself and many other staff members have contributed towards the monthly voucher scheme.
Sam and myself have just lost £1,000 for this year. We usually use the vouchers to buy christmas presents and gifts for ourselves through the january sales and buy bits for the house.. :down:
There is very little chance if any of seeing any return on our £1,000, we may see some of the money back in months to come when the business is all broken down and assets shared out, but it won't be much if any at all.
The company apparently used the finances to invest in shares and it's lost out very heavily. The thing that really gets me is that they knew about this in July and could have pulled the plug straight away. We where due to get our vouchers this week!!! They have delayed and delayed it with the intention to get in as much money as possible, just 2 months more and they could have pushed the company through into 2007 and then gone into liquidation!
The figures have been estimated at the following:
34,000 agents
124,000+ customers
putting in average of £400 each, some even upto £2000 each
Total amount estimated to be a least £68,000,000 and could even reach £90,000,000 whichis going to be stripped from the economy at Christmas time, can you imagine the impact this will have on business!
It's not really sunk in yet, we only found out yesterday literally 2 days before our vouchers where to be issued!
Kev
