MFI divisions in administration after MBO
Published: 7 October 2008
MFI's retail and property divisions were placed into administration yesterday after chief exec Gary Favell completed an MBO which saved 106 stores.
The move means the remaining 81 stores in the store portfolio are at risk and while 1,350 jobs have been saved, 39 employees have already been made redundant.
The company will continue to trade as usual while administrator Kroll seeks a buyer for the remaining part of the business.