Victims of Christmas hamper firm Farepak’s financial demise were kicked in the teeth again this week. They will only receive around 15p for every £1 they paid into the scheme.
Farepak collapsed in October 2006 leaving around 120,000 people out of pocket—the average customer lost £400.
This week’s agreement ends legal action against the former directors, who escaped without admitting any liability.
Margaret Hendry, one of those who lost money, told Socialist Worker, “I have never forgotten what that Christmas was like.
“I lost nearly £800 that I could ill afford to lose. Meanwhile “Sir” Clive Moneybags Thompson went on holiday. He has no conscience. The “Sir” should be withdrawn.
“We are being offered 15p in the pound—what an insult. I think the government should have stepped in to help customers, and prevent something like this from happening again.”
The total owed to customers is £38 million—they will receive a paltry £4 million.
“We used to think £38 million was substantial, but then the government spent billions bailing out the banks,” pointed out Louise McDaid from the Farepak Victims Committee.