News, Tools, and Training for Key / National Account Managers
and related functions working in the FMCG / Retail industry

Namnews Free Trial

Subscribe

Advertise

Contact Us

Search Kamcity

« Back to News Headlines

 

Namnews News

 RSS Feed

 Follow us on Twitter

UK: More Than 1,400 Jobs Lost As MFI Ceases Trading
More than 1,400 staff at MFI across the UK have lost their jobs after the furniture retailer ceased trading on Friday. All 111 of the company's stores have closed after administrators were unable to sell the furniture retailer's stock and customer order book. Customers with outstanding orders have been advised to seek refunds.

Administrators Menzies Corporate Restructuring (MCR) had been trying to sell the remaining MFI stock and customer order book to third parties. But the cost of completing the outstanding orders appears to have outweighed any benefits to the potential creditors.

MFI saw a dramatic fall in sales recently, fuelled by competition from rivals like Ikea, B&Q and Homebase. The downturn in the housing market also took its toll on business, as demand for new kitchens and bedrooms slumped.

Namnews - Monday 22nd December 2008


 

See column on the right for related news items
or search our Namnews Archive containing over 8 years of industry news (Subscriber-only)

 

 
 

Related Articles

Namnews Factfile: Kingfisher

Namnews City Update: Kingfisher

UK: Retailers Face Bleak Christmas

UK: Last Of The Summer Wine Town Sees Off Tesco

UK: Savvy Shoppers Are Key For Sainsbury’s

UK: Kingfisher Reports Strong Rise In Profits

GERMANY: New Bidder Emerges For Karstadt Outlets As Metro Pushes For Merger

UK: B&Q Takes On Ikea And Argos With New Furniture And Appliances Range

UK: M&S, Tesco And Boots The Most Highly Valued Shops

UK: Retailers Expected To Cash In On ‘Stay-At-Home’ Easter

UK: £3.6bn Of Retail Market Share Up For Grabs

UK: Home Retail Warns Of Further Job Cuts

 

 

   
   
About Kamcity  |  Advertise  |  Contact us  |  Copyright & Disclaimer  |  Namnews Free Trial  Search Kamcity