Customers of collapsed Christmas hamper group Farepak will have to wait till next year to receive compensation from its liquidators.

Farepak collapsed two years ago, taking£38 million of customers’ money with it. The 122,000 customers affected are only expected to receive 5p in the pound after waiting more than two years for compensation from the company.

A fund was set up at the time meaning that customers were able to recoup about 15p in the pound from money they had saved with the company.

According to The Observer, Farepak’s advisors have earned almost£1 million. The bill has continued to soar as legal action is being taken against the former directors.

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