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Furniture chain MFI closes down #277006
19th Dec 2008 6:32pm
19th Dec 2008 6:32pm
Joined: Aug 2006
Posts: 2,875
Wirral
Mondeo_Scott Offline OP
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Mondeo_Scott  Offline OP
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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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Re: Furniture chain MFI closes down [Re: Mondeo_Scott] #277010
19th Dec 2008 7:01pm
19th Dec 2008 7:01pm
Joined: Aug 2006
Posts: 2,422
Ellesmere Port
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Tony_1985 Offline

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Tony_1985  Offline

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Ellesmere Port
oooooooo dear

BYE BYE

Re: Furniture chain MFI closes down [Re: Mondeo_Scott] #277024
19th Dec 2008 8:11pm
19th Dec 2008 8:11pm
Joined: Jul 2008
Posts: 35
Sunny Wirral
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FreckledHen Offline
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FreckledHen  Offline
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Posts: 35
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!

Re: Furniture chain MFI closes down [Re: FreckledHen] #277025
19th Dec 2008 8:12pm
19th Dec 2008 8:12pm
Joined: Jul 2008
Posts: 9,995
Back of the wardrobe
MissGuided Offline

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MissGuided  Offline

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Back of the wardrobe
Made For Idiots lol goodbye fairwell



Re: Furniture chain MFI closes down [Re: MissGuided] #277046
19th Dec 2008 9:47pm
19th Dec 2008 9:47pm
Joined: Aug 2008
Posts: 28
wirral
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sristeve Offline
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sristeve  Offline
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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

Re: Furniture chain MFI closes down [Re: sristeve] #277399
22nd Dec 2008 3:32am
22nd Dec 2008 3:32am
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Posts: 16,227
New Brighton
_Ste_ Offline
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_Ste_  Offline
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should of made better quality furniture, idiots no

Re: Furniture chain MFI closes down [Re: _Ste_] #277405
22nd Dec 2008 8:09am
22nd Dec 2008 8:09am
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Back of the wardrobe
MissGuided Offline

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Back of the wardrobe
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...



Re: Furniture chain MFI closes down [Re: _Ste_] #277516
22nd Dec 2008 7:06pm
22nd Dec 2008 7:06pm
Joined: Dec 2003
Posts: 8,019
my house
Sanchez Offline

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Sanchez  Offline

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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!
Re: Furniture chain MFI closes down [Re: MissGuided] #277598
22nd Dec 2008 9:35pm
22nd Dec 2008 9:35pm
Joined: Dec 2003
Posts: 5,683
Bebington, Wirral
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DavidB Offline
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DavidB  Offline
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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.


"C20 LET bang"
Re: Furniture chain MFI closes down [Re: DavidB] #277706
23rd Dec 2008 3:44pm
23rd Dec 2008 3:44pm
Joined: Jul 2008
Posts: 794
New Brighton
Shambo Offline
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Shambo  Offline
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Posts: 794
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

Re: Furniture chain MFI closes down [Re: Shambo] #277784
23rd Dec 2008 11:19pm
23rd Dec 2008 11:19pm
Joined: Dec 2003
Posts: 5,683
Bebington, Wirral
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DavidB Offline
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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.


"C20 LET bang"
Re: Furniture chain MFI closes down [Re: DavidB] #277794
23rd Dec 2008 11:36pm
23rd Dec 2008 11:36pm
Joined: Dec 2003
Posts: 8,019
my house
Sanchez Offline

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Sanchez  Offline

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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!
Re: Furniture chain MFI closes down [Re: Sanchez] #277864
24th Dec 2008 2:16pm
24th Dec 2008 2:16pm
Joined: Jul 2008
Posts: 794
New Brighton
Shambo Offline
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Shambo  Offline
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Posts: 794
New Brighton
Looks like Zavvi is next on the chopping block...

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

Re: Furniture chain MFI closes down [Re: Shambo] #277873
24th Dec 2008 4:19pm
24th Dec 2008 4:19pm
Joined: Aug 2006
Posts: 2,422
Ellesmere Port
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Tony_1985 Offline

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Tony_1985  Offline

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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 !!


Re: Furniture chain MFI closes down [Re: Sanchez] #277882
24th Dec 2008 6:37pm
24th Dec 2008 6:37pm
Joined: Aug 2005
Posts: 16,227
New Brighton
_Ste_ Offline
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_Ste_  Offline
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Joined: Aug 2005
Posts: 16,227
New Brighton
Originally Posted by Sanchez
I think mfi really stood for monkey flooded instrument


lol

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