Is there a subsidiary of Fare Pack?

Question

i think i am being to porkies here but anyone know if Fare Pack had any subsidiary companies that went bust at the same time? I know some folk that have said that they lost out money because of this Fare Pack garp. But i am not sure of the name of the company but they told me it was a subsidiary. I find this unbelievable as I heard rummar that these folk spend the money and now with the Fare Park thing they are covering up under it!! I need the truth to be told please. I have done some searching on-line but found no word of these subsidiaries. From what i believe is that farePack is a subsidiary of a bigger company

yeah I mean farepak. Been the the said website, been to wikipedia and found its parent company but found not site of another savings company subsidiary. I think my mate is lying. I cant believe their lies because they are saying that they would be embarrassed to let their neighbours know that they were with a "farepak" subsidiary which doesn't exist!!! They said they put their money together to pay. i am thinking of exposing their lies!!!

Answer 1

Farepack was a subsidiary of a larger company called EHR. Both went bust at the same time (13th Oct).

This is part of a story taken from the Scotsman that explains what happened. Basically Farepack went bust after retailers stopped providing credit for shopping vouchers after a similar company went bankrupt earlier this year. Instead of declaring bankruptcy straight away the bosses in Farepack continued to take people's money and hoped they could get enough of it to pay for the vouchers up front. The people you've seen on the news really did lose the money, they're not covering up anything.


SWINDON-BASED Farepak had around 170,000 customers throughout the UK.

Customers would pay money monthly to Farepak, which then banked it. Once all the cash had been paid, a separate company - Choice Gift Vouchers - would issue vouchers redeemable in stores such as John Lewis and Argos.

In February this year, Choice Gift Vouchers went into administration after another Christmas club, Family Hampers, went bust. The collapse led to retailers demanding a change in the way such clubs work. They no longer wanted the system to be run on credit; instead, firms like Farepak had to pay for vouchers up front.

On June 30, bosses announced they would run out of money by the autumn unless they could borrow more cash. Then on August 23, bankers HBOS said they would lend no more because the company was beyond saving.

Both Farepak and its parent company EHR were placed in administration on October 13.

Answer 2

Did you mean FarePak? If so go to http://www.farepak.co.uk/ for important information about that organization.

Answer 3

i think i'm in a international of difficulty. no longer even a lager p.c.. for me. My physique won't enable me to exercising what use to furnish me a 6 p.c... only a frumpy physique here. And so it is going.