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M F I Throw In The Towel And Plan To Close All 200 Stores

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http://thebusinessonline.com/Stories.aspx?...2E-D07EB5AA1CEE

End of an era as MFI puts its furniture shops up for sale

By Lauren Mills

28 May 2006

TROUBLED furniture company, MFI has appointed Dresdner Kleinwort Wasserstein, the investment bank, to auction its 200-strong chain of stores in a move to break up the group, which also owns Howden Joinery, the builders’ merchants.
A sale of the stores may lead to the disappearance of the famous MFI brand, which started in the 1960s making flat-packed furniture.
It provides confirmation of the revolutionary change sweeping through the retail sector, which is being forced to adapt to globalisation and cut-throat competition from
more efficient competitors such as Ikea
.

Read recently that IKEA are sourcing more from China!

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I know the property manager, i wonder if he'll be made redundant ?

And he sold to rent earlier this year so at least he won't have a mortgage to worry about but it might make buying in Hertfordshire rather difficult.

Edited by terrified

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I know the property manager, i wonder if he'll be made redunant ?

First victim of the bust? It seems "business as usual" is no longer good enough, we need a constant boom or retailers face a bleak outlook.

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Guest Bart of Darkness

Looks like their expansion plans have been shelved.

Will the chairman lose his seat on the board?

Staff blamed for not "thinking outside the box".

Redundancy payments unlikely to cushion the blow.

End of an era as MFI puts its furniture shops up for sale, 40% off and nothing to pay until 2007.

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I think this is really sad news. No more will we hear about Long John Silver taking a table back and saying “I’ve got a leg missing”

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Guest Alright Jack

I see DFS appear to be fine despite the slowdown. I guess the decision to go private was the right course of action after all.

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Guest Bart of Darkness
I see DFS appear to be fine

Yes, appearences are everything to you I guess. :P

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Looks like their expansion plans have been shelved.

Will the chairman lose his seat on the board?

Staff blamed for not "thinking outside the box".

Redundancy payments unlikely to cushion the blow.

End of an era as MFI puts its furniture shops up for sale, 40% off and nothing to pay until 2007.

Will the shops be sold as flat packs?

Edited by Without_a_Paddle

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I wonder who will be looking to buy the old MFI premises ...... in fact, who would be interested in huge out of town retail space for the foreseeable future !!

Also, wonder how long before Tesco starts selling Ikea-esque furniture .....

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You sad lot of bears. You just wish ill on other people. Go and buy a house.

'don't wish ill on anyone the news is the news, are we not allowed to talk about it any more?

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Also, wonder how long before Tesco starts selling Ikea-esque furniture .....

I just got back from Paris where they have lovely food shops everywhere... what do you get in London? ******ing Tesco Express

And I think they freeze the fruit & veg first to make it last longer which is why it tastes so bland.

Edited by www

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Guest

'don't wish ill on anyone the news is the news, are we not allowed to talk about it any more?

Absolutely not. Now go and buy a house.

EDIT - It's fun being a V.I. troll.

Edited by megaflop

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Guest Bart of Darkness
why dont they convert the MFI premises into FLATS ?????

I MEAN THE FURNITURE IS ALREADY THERE FFS?????!!!!

:lol: Inspired!

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sign of the times. the economy is not as rosy as it is being made out. got tapped up for work by some plumbers the other day/its been slack since christmas. wait till after the world cup. its like 1990 all over again.

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To be honest MFI was a bit of a has been, I got my kitchen from there, and it is a very good kitchen, but perhaps it had just had it's day.

Is it a sign of the times, may be but I think the failing DIY chains say so much, despite the spin that we are now getting people in to to the jobs around the house.

But note that most of the out of town stores are little more than warehouses, it will be easy to change the use from store back to warehouse or factory unit, unlike the high street shops

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To be honest MFI was a bit of a has been, I got my kitchen from there, and it is a very good kitchen, but perhaps it had just had it's day.

Is it a sign of the times, may be but I think the failing DIY chains say so much, despite the spin that we are now getting people in to to the jobs around the house.

The traditional gung-ho naive DIY'ers were first-time-buyers, of course they account for only a fraction of new entrants into the property market now. Amateur BTL'ers are out there doing a Beenie but they don't buy on 'quality' simply price, hence they go down to the nearest IKEA and buy the cheapest kitchen available. If it falls apart then no problem, they can simply install another cheap kitchen and write it off as an expense.

MEW = Moben

BTL = IKEA

FTB = Skint or non-existent.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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