The one they won’t bail out
Two years ago the Christmas savings club Farepak went bust. Its 150,000 customers — predominantly low-income and female — have still not received a penny of compensation for the £40 millions which they lost. Farepak customers deposited money with the savings club from January to October each year. In November they would be issued with the equivalent value in the forms of vouchers, provided by Choice Gift Vouchers (CGV). The retailers in whose shops the vouchers were used would return the vouchers to CGV. The latter, in turn, would send the vouchers on to Farepak and reclaim their value in cash...