MFI was today silent over reports that between 90 to 100 of its stores could go into administration this week.
Speculation has mounted that the furniture chain may close a number of its stores to safeguard 2,000 of the exisiting 3,100 workers as part of a business restructuring design.
Initial press reports suggested that between 90 and 100 stores could be placed in administration from today, as the final details of a management buyout are set in place.
Later, further press reports stated that, MFI chief Gary Favell told landlords that MFI’s property division will be put into administration unless they agree to a three-month rent holiday from 29 September until Christmas Eve.
We will report further news as we get it.