European Home Retail

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European Home Retail plc is a large UK company. Though registered in Swindon, Wiltshire, its operations are based in Warmley, Bristol. On 13 October 2006, it was announced that its subsidiary Farepak had gone into administration. [1]

Contents

[edit] History

The origins of Farepak Hampers dates back to 1935. In 1969, Bob Johnson was appointed managing director of the small Christmas savings club with 500 agents operating from a butcher shop in Peckham.

In 1995 Farepak purchased Kleeneze Homecare (now Kleeneze UK). When Farepak changed its name to Kleeneze plc it extracted its original core business to its subsidiary Farepak Food and Gifts Ltd. By 2006 Kleeneze plc changed its name to the current European Home Retail plc.

[edit] Farepak collapse

After a series of profit warnings spanning from June 2006, Farepak ceased trading on 13 October, leaving tens of thousands of people out-of-pocket for Christmas of 2006. The Sun has called Managing Director Nick Gilodi Johnson "The Grinch" and "The Man who stole Christmas." [2]. EHR itself went into administration later that same day[3]

A new fund was been set up (see:Farepak Response Fund) to help families affected by the Farepak closure. Donations to this fund have been made by companies such as Tesco, Sainsbury's, Marks and Spencer and HBOS; the latter had faced criticism for their role as EHR's bankers. [4][5]. The fund was officially closed at 18:00pm on Wednesday 29th November 2006, although there has been some suggestion that contributions may continue to be made to the victims. In December 2006, Myleene Klass auctioned off her bikini which she wore during her appearance on TV show I'm a Celebrity, Get Me out of Here! and donated all of the money to help victims of the Farepak scandal. The auction on eBay raised £7000.[1][2][3]

[edit] Board of Directors

  • Chairman: Sir Clive Thompson (formerly of Rentokil)
  • William Rollason Chief Executive Officer (CEO)
  • Stevan Fowler Finance Director and Company Secretary (appointed 1st January 2006)
  • Nicholas Piers Gilodi Johnson Executive Director[6]
  • Neil Gillis Independent Non-executive Director
  • Paul Munn Independent Non-executive Director
  • Michael Johns Independent Non-executive Director appointed 28th September 2005)

Nicholas Gilodi-Johnson was appointed after the death of his father Bob Johnson[7]

[edit] Subsidiary companies

It is the parent company for a number of well known subsidiary companies, namely:

[edit] Kleeneze Europe

Kleeneze Europe is a multi-level marketing company, and was started in 1923, Kleeneze was bought on October 13, 2006 by Findel plc[8]

[edit] eeZee TV

In March 2005, EHR formed the joint venture satellite TV station eeZee TV, a 50/50 joint venture with JML Direct, broadcasting on Sky digital channel 657.

[edit] Farepak Food & Gifts Limited

Farepak Food & Gifts Limited has been operating since 1981 at a site in Swindon, Wiltshire, England. Farepak's own annual turnover of £70m (2004), mainly generated from its core business in Christmas hampers. In addition, Farepak sell High Street Gift Vouchers and also supply gifts, including electricals. Unlike many of the other subsidiary companies, Farepak was not sold to the Findel group and was subsequently put into administration on 13 October 2006 [1]. There was a five hour protest outside the companies gates on 17 October 2006[9]

[edit] I Want One Of Those.com

Gifts and gadgets website. Now sold to the Findel group[8].

[edit] Kitbag.com

Europe’s largest online sports retailer. Now sold to the Findel group[8].

[edit] Stock Market

"European Home Retail" can be found on the stock exchange; code EHR.L. 2005 group turnover was £176,191,000 GBP.

[edit] References

  1. ^ a b BBC
  2. ^ http://www.thesun.co.uk/article/0,,2-2006500236,00.html
  3. ^ timesonline - Prufrock: Mr 20% faces bleak ChristmasLife Style Extra - European Home Retail calls in receivers
  4. ^ http://news.bbc.co.uk/1/hi/business/6126062.stm
  5. ^ http://news.bbc.co.uk/2/hi/business/6127786.stm
  6. ^ Appointed to the Board in September 2001, Nicholas Piers Gilodi Johnson was appointed Managing Director of Farepak Food and Gifts Ltd in February 2005. He was previously Corporate Strategy Manager with United Pan Europe Communications NV and, prior to that, was with News International PLC.as retrieved on 8 Sep 2006 09:43:12 GMT.
  7. ^ Who are the Farepak directors? - Swindon Advertiser 18.10.2006
  8. ^ a b c Life Style Extra - Findel picks up 34 mln stg of assets from European Home Retail receiver Retail Week - Findel pounces on EHR assets
  9. ^ [this is wiltshire - Emotions boil over at Farepak protest - 18.10.2006]

[edit] See also

[edit] External links

[edit] General

[edit] News

[edit] BBC

[edit] Swindon Advertiser

[edit] Other

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