Essential reading for retailers and suppliers in the home improvement market

UPDATE: MFI in administration again

Published: 26 November 2008
MFI is about to enter administration for the second time in as many months.
UPDATE: MFI in administration again
MFI filed a notification of intention to file for administration with the High Court last night and, according to reports, staff were called into a meeting this morning and told about the company's decision.

The retailer's most recent woes are thought to stem from disputes with landlords over unpaid rent. When Gary Favell led an MBO of 106 stores in September, he requested a three-month rent holiday from the landlords of the rescued stores in order to keep the company afloat.

However, it appears that not all the landlords agreed to this at the time and are now demanding the unpaid rent, putting the troubled retailer in an untenable position.

MFI was this morning offering 70% off ranges on its website with free delivery.

The downturn in consumer confidence and spending has hit the big-ticket retailer hard as its range offers little insulation against a fall in the housing market and larger-scale home improvements.

Comments

Published prior to March 2014
By mrs almendhry
mfi owes me 1000 pounds which can i say it has been nearly one year and i would like to know when i am getting my money back which i need desperately.

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