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Storage Spreading the Cost of Christmas in Edinburgh
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Storage Spreading the Cost of Christmas in Edinburgh
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Storage Spreading the Cost of Christmas in Edinburgh
Posted 2011-10-10 11:49:00
As the 5 year anniversary of the demise of Farepak approaches Scotland is reminded of the cost of Christmas. The company which allowed individuals and families to ease the economic burden of Christmas by spreading manageable payments over the whole year went into administration in October 2006. £37 million was lost by approximately 116,00 people and 5 years on most have yet to receive any kind of refund: those involved have been told they will receive no more than 15% creating a total loss of £31,450,000.
The Farepak victims committee have plans to petition the UK Government to ensure people’s money is protected in the same way as large financial institutions “if they can protect the banks, they can protect ordinary working people” This is particularly applicable due to the fact that most people to suffer as a result of the company going bust were those on low incomes and pensioners.
Edinburgh
There are several ways in which the cost of Christmas can be spread over the year, especially in Edinburgh, without committing to any kind of savings plan. One potential option which should not go unconsidered is the use of a self storage facility. Renting a storage room can serve several purposes
Self Storage
- Gradually purchase gifts throughout the year to ease the burden in November & December
- Store these gifts in a self storage facility: this also keeps them out of the way of prying eyes on the run-up to Christmas
- Storage space rented is entirely flexible: you can change the size of unit rented at a moment’s notice should your gift purchasing require it
- Rent a larger room and share this with friends or family members to reduce the already low cost even further
- Have peace of mind everything you store will remain in excellent condition whilst in storage
Self storage serves many functions with respect to preparing for historically the most expensive time of year for everyone, especially those with children. This might go some way to easing the burden for those caught-up in the Farepak liquidation process. As anything “pre-paid” is currently unregulated it is impossible to anticipate when this industry will in fact be regulated and bound by Government legislation.
Those in charge of the liquidation of Farepak, BDO said “it’s not yet possible to confirm when a dividend will be paid to creditors” Although an up-date on the situation is expected before the end of December 2011.
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