Sainsbury's, Tesco, Marks and Spencer, Morrisons and John Lewis have joined forces to help customers of Farepak, the savings club which fell into administration last month.

The retailers have all pledged donations to the Farepak Response Fund, set up by the government to help 150,000 Farepak customers who have lost an estimated £27m-£40m following the collapse of the savings club.

“We will contribute so that Farepak customers who had opted for John Lewis vouchers can receive 25% of the value of their savings,” a John Lewis spokeswoman said.