Insolvency Service Moves to Ban Farepak Directors

Posted: 17th February 2011

The Insolvency Service (IS) has announced that it is taking action against the erstwhile directors of Farepak, the Christmas Club business that went spectacularly bust in 2006, leaving more than 100,000 customers out of pocket.
The IS is seeking to ban eight of the Farepak directors from holding the office of director – including the former president of the CBI, Sir Clive Thompson – following an investigation into the conduct of the company before its collapse.