Category: Diplomat

We picked up this story that ran on Retail Week earlier today and, in light of Sovereign Finance chasing alleged debts from small businesses, such as the repairers that carried out service work on behalf of MFI, it seemed very fitting that it should be published here. Bear in mind as you read thi…

A businessman who started as a market trader has made the biggest furniture purchase in history by buying the entire stock of failed kitchen retailer MFI. Multi-millionaire Chris Dawson’s purchase filled 2,400 articulated lorries with furniture worth £68million at retail prices, bought from…

In a letter sent to many service agents, received this morning, The administrator acting on behalf of the failed furniture retailer, MFI, has requested payment for monies owed to MFI. Obviously the administrator, Zoflo Cooper, is unaware that virtually any spare parts bought by service agents wer…

Stories are emerging of a rumoured relaunch of the MFI furniture chain using the Hygena and Schrieber brand names, both of which were owned by MFI. However this may not be as simple as it sounds since other retailers in the sector rush in to fill the void left by the demise of MFI.

Local contract fitters for furniture retailer MFI yesterday held a protest outside the firm’s Norwich store amid claims the company has failed to pay them for six weeks. Around 40 Norfolk-based sub-contractors for the firm, which was last week placed into administration, claim thousands of pounds…

Furniture, kitchen and appliance retailer MFI has gone into administration citing falling demand for big ticket items, cash-flow problems and the withdrawal of credit. Some stores will continue to trade, but 26 will close. Existing orders will be either met or refunded, MFI have said this evening.

The whole story with MFI and their administration, management buyout and parts collapsing is utterly bewildering and holds more twists than an old Hitchcock movie. After weeks of drawn out speculation and no-one really knowing where they are with MFI it would appear that in a letter emailed to ag…

The Independent has reported that MFI put its retail and property divisions into administration yesterday, following the completion of a management buyout deal that rescued 106 of its 187 stores. Kroll, the restructuring specialist, was appointed administrator to oversee the process.

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.

Furniture and appliance retailer MFI is once again in the headlines this weekend, this time with reports that the group, owned by Merchant Equity Partners (MEP), is understood to face four main options that are being weighed up. A management buyout, further cash from existing investors, a sale to…