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#277006 - 19th Dec 2008 6:32pm Furniture chain MFI closes down
Mondeo_Scott Offline
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Registered: 14th Aug 2006
Posts: 2875
Loc: Wirral
Administrators at furniture retailer MFI say the firm has now ceased trading, with the loss of 1,400 jobs.

The company's 111 stores have now all been closed.

The administrators said that it had not been possible to sell the business and customers with outstanding orders should seek refunds.

MFI went into administration in November as the downturn in the housing market took its toll on demand for new kitchens and bedrooms.

MFI has seen sales fall in recent years, as it has faced increased competition from newer rivals such as Ikea.

The administrators could not say what redundancy payments would be made to the staff who had lost their jobs

Refunds offered

Customers with outstanding or incomplete orders have been advised to apply for a refund.

MFI: A History

Those who paid by credit card or Visa debit card should contact their card providers.

For customers who paid by cash, cheque or non-Visa debit cards, the administrators say they expect to issue a full refund by drawing on about 30m which has been frozen in various credit card company accounts.

MFI's collapse has wider ramifications.

A huge warehouse used by MFI but run by logistics firm DHL will close on 23 February if a buyer is not found.

The distribution centre, at Thorne, near Doncaster, employs 350 people.

DHL said it would seek to redeploy as many staff as possible, but had so far found new posts for only 35 people.





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#277010 - 19th Dec 2008 7:01pm Re: Furniture chain MFI closes down [Re: Mondeo_Scott]
Tony_1985 Offline

Forum Master

Registered: 19th Aug 2006
Posts: 2421
Loc: Ellesmere Port
oooooooo dear

BYE BYE

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#277024 - 19th Dec 2008 8:11pm Re: Furniture chain MFI closes down [Re: Mondeo_Scott]
FreckledHen Offline
Newbeee

Registered: 18th Jul 2008
Posts: 35
Loc: Sunny Wirral
Good, that will save me from sore thumbs and wondering were all the odd left-over bits of chipboard went. I did ask once and was told that the "odd bits" were packing pieces!

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#277025 - 19th Dec 2008 8:12pm Re: Furniture chain MFI closes down [Re: FreckledHen]
MissGuided Offline

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Registered: 18th Jul 2008
Posts: 9995
Loc: Back of the wardrobe
Made For Idiots lol goodbye fairwell
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#277046 - 19th Dec 2008 9:47pm Re: Furniture chain MFI closes down [Re: MissGuided]
sristeve Offline
Newbeee

Registered: 25th Aug 2008
Posts: 28
Loc: wirral
good bye great loss as some of us worked for them and was a brill job they not even said anything about the huge delivery center that has been shut in warrington either were me and jonah worked that shut down over 3 weeks ago and hundreds of guys out of work there 2

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#277399 - 22nd Dec 2008 3:32am Re: Furniture chain MFI closes down [Re: sristeve]
_Ste_ Offline


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Registered: 7th Aug 2005
Posts: 15987
Loc: New Brighton
should of made better quality furniture, idiots no
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#277405 - 22nd Dec 2008 8:09am Re: Furniture chain MFI closes down [Re: _Ste_]
MissGuided Offline

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Registered: 18th Jul 2008
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sristeve - that is pretty crap - sorry mate.
I read yesterday at least 10 more high street chains could topple in this latest recession. Could be scare mongering of course...
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#277516 - 22nd Dec 2008 7:06pm Re: Furniture chain MFI closes down [Re: _Ste_]
Sanchez Offline

Wiki Veteran

Registered: 17th Dec 2003
Posts: 8019
Loc: my house
Originally Posted By: _Ste_
should of made better quality furniture, idiots no


Agreed mate, what they made was ok, but for the money they charged you could get better.
_________________________
Uncertainty or not knowing causes depression, Im happy because I know I'm going to die one day!

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#277598 - 22nd Dec 2008 9:35pm Re: Furniture chain MFI closes down [Re: MissGuided]
DavidB Offline
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Registered: 7th Dec 2003
Posts: 5599
Loc: Bebington, Wirral
Originally Posted By: MissGuided
Could be scare mongering of course...


That's all it is. The media is going ballistic over this, never seen anything like it since Sept 11th 2001.
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#277706 - 23rd Dec 2008 3:44pm Re: Furniture chain MFI closes down [Re: DavidB]
Shambo Offline
Wise One

Registered: 15th Jul 2008
Posts: 794
Loc: New Brighton
Originally Posted By: Station
Originally Posted By: MissGuided
Could be scare mongering of course...


That's all it is. The media is going ballistic over this, never seen anything like it since Sept 11th 2001.


I'm not so sure. Alot is riding on this years Christmas sales figures. Many high street shops operate at a loss for long parts of the year and make all their profits from October to new year. If they haven't sold enough this Christmas to remain insolvent, they won't be getting any new credit from the banks and will fold.
Other newer high street brands have been following an aggressive buisness plan where they've been staking a claim on the high street, keeping a high profile and market share by opening and running outlets at an operating loss, with the help of a few profit making shops, and a line of credit from the bank. Again, without the banks funding they're going to go tits up.

Next year should be very interesting on the high street. think

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#277784 - 23rd Dec 2008 11:19pm Re: Furniture chain MFI closes down [Re: Shambo]
DavidB Offline
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Registered: 7th Dec 2003
Posts: 5599
Loc: Bebington, Wirral
Judging by this week, they'll be at least making some kind of profit. Went to Tescos and up to The Trafford Centre today. Never seen car park full there before.
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#277794 - 23rd Dec 2008 11:36pm Re: Furniture chain MFI closes down [Re: DavidB]
Sanchez Offline

Wiki Veteran

Registered: 17th Dec 2003
Posts: 8019
Loc: my house
I think mfi really stood for monkey flooded instrument
_________________________
Uncertainty or not knowing causes depression, Im happy because I know I'm going to die one day!

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#277864 - 24th Dec 2008 2:16pm Re: Furniture chain MFI closes down [Re: Sanchez]
Shambo Offline
Wise One

Registered: 15th Jul 2008
Posts: 794
Loc: New Brighton
Looks like Zavvi is next on the chopping block...

http://news.bbc.co.uk/1/hi/business/7798973.stm

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#277873 - 24th Dec 2008 4:19pm Re: Furniture chain MFI closes down [Re: Shambo]
Tony_1985 Offline

Forum Master

Registered: 19th Aug 2006
Posts: 2421
Loc: Ellesmere Port
Yeah, heard this one the radio this afternoon

They reckon that all this qill continue on through 2009, but will only be the small companies that will experience difficults.

Yeah right !!


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#277882 - 24th Dec 2008 6:37pm Re: Furniture chain MFI closes down [Re: Sanchez]
_Ste_ Offline


Wiki Master

Registered: 7th Aug 2005
Posts: 15987
Loc: New Brighton
Originally Posted By: Sanchez
I think mfi really stood for monkey flooded instrument


lol
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