HUNDREDS of people in the Borders lost thousands of pounds in 2006 when the Christmas savings company Farepak collapsed and now six years later those customers have been told that they will get 50 per cent of the money they had paid in.
Christmas for many homes in Berwickshire was spoilt that year, agents and customers furious that Farepak kept taking their hard earned money despite knowing that the company was in trouble.
After last week’s announcement by the liquidators that an additional 32 per cent will be repaid to customers by next month, on top of the 17.5 per cent they received from the Government’s Farepak compensation fund, Borders MP Michael Moore said:“I worked very closely with Borderers who were affected by the collapse of Fairpak in 2006 and during the special surgeries and questionnaires I held I met many people who had lost hundreds of pounds.
“After six years of waiting, news that customers will receive around half the money they lost is absolutely brilliant news. Although we would want them to be reimbursed 100%, I appreciate that in the circumstances this is the best outcome we could have hoped for.
“I want to encourage those affected to ensure they receive the compensation due and those who have changed their address have been urged to inform the Farepak claims management team.”