Park sees recovery in UK savings demand

Voucher and savings club Park reported a sharp drop in annual profits today, but said orders for this Christmas were up 17% amid signs the industry is on the mend following the high-profile collapse of rival Farepak.

Park chairman Peter Johnson said the savings figure for this festive season represented a “healthy recovery” after Farepak went into administration in 2006, leaving around 150,000 Christmas savers £40m (€50.7m) out of pocket.