Farepak savings cash boost

OLDHAM savers who ploughed money into failed Christmas savings club Farepak are to receive 50p of every £1 they had lodged with the company.

Farepak collapsed owing £37million in 2006.

The sum is made up of 13p secured by the liquidators of the firm, 17.5p previously received from a charity set up for the savers, with the balance made up of an £8m payment from HBOS.

Dinner ladies at Blue Coat School lost £6,000 which they had saved between them.

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