The Sunday Times has reported that MFI could fall into administration within weeks unless a buyer for the ailing furniture chain can be found. Its owner, Merchant Equity Partners (MEP), are said to have appointed Argyll Partners to urgently find new investors to inject fresh equity into the firm.
The newspaper said that in recent weeks MFI’s owners have held talks with a number of potential partners, including Homeform, which owns Moben Kitchens, and Swedish retailer Nobia, which owns Magnet Kitchens in the UK.
With the recent rumours surrounding troubles at the beleaguered retailer this should not come as a huge surprise really. It certainly points in the direction of big trouble in the short term for MFI, even re-organisation would bring operational issues to the retailer.
We are told that MFI are closed this week for spares Tuesday through till Thursday but no reason has been given it may therefore be totally unrelated.