HBOS is to donate GBP2 million to the Farepak relief fund after high street retailers donated nearly GBP1 million. HBOS was criticized by MPs after it continued to lend Farepak’s parent company, European Home Retail (HER), money during its difficulties.
A spokesman for the company said Farepak customers are experiencing real financial hardship, we are playing our part in trying to solve this.
The Farepak relief fund was set up by Ian McCartney, minister for consumer affairs. Companies that have already donated include Home Retail Group, J Sainsbury, Tesco, W M Morrison and John Lewis. WH Smiths and Woolworths are to follow shortly.