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M F I Shut Down Has Spin Off Effect As 300+ Jobs Are Lost

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http://news.bbc.co.uk/1/hi/wales/south_east/5024574.stm

323 jobs set to go at sofa plant

A sofa factory in Llantrisant in Rhondda Cynon Taf, south Wales is to close with the loss of 323 jobs.
Its owner, the retailer MFI, has launched a 90-day consultation period, and hopes to find other work for staff.

How many jobs lost at MFI with 200 stores closing? 25 employees per store = 5,000.

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I think you are on the right track here.

MFI to me is an icon on the real health of the economy.

I can remember just before the last turndown, MFI led the field, along with Magnet and Southern.

Both should be looked at as benchmarks on where we are heading!!.

They give a very good picture on how the consumer is spending, and on what.

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This story has been doing the rounds on the Welsh news for past few days. On the lunch time edition they were stating that things are going to get a lot worse for the area in the coming months, especially for the manufacturing sector.

Worse still most people in the area are totally unaware of the possibility of a downturn.

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When I first started out in BTL, I furnished bedrooms with MFI furniture at about £350 per room for low quality furniture.

I now get better quality from Ikea for about £225 per room.

That's the competition winning the game IMO.

I dont think its quality that let them down, but the prices. People dont have enough to buy these unnecessasary things theses days. Or is it my wishful thinking ?

Why is B&Q and Homebase are struggling ?

Edited by CrashCrash

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I dont think its quality that let them down, but the prices. People dont have enough to buy these unnecessasary things theses days. Or is it my wishful thinking ?

Why is B&Q and Homebase are struggling ?

You're kidding Chester was absolutely heaving today and Cheshire Oaks designer outlet had traffic queing around the block for parking, everyone wants a bargain but they just do not seem to understand the implications.

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When I first started out in BTL, I furnished bedrooms with MFI furniture at about £350 per room for low quality furniture.

I now get better quality from Ikea for about £225 per room.

That's the competition winning the game IMO.

Its the job losses which are the problem here. The UK loses out to IKEA and they are starting to outsource to China as Sweden is no doubt expensive to do any form of business. As UK manufacturing continues to dissappear more and more job losses will follow and according to the VIs, it has been strong employment growth that has been underpinning ever rising HPI. Remove the jobs and you remove the fuel for HPI.

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ivebeing looking at volvos. all of a sudden you can get pre registered 06 s40's for 3k off list. signs of a economy slowing me thinks

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IMO B&Q and Homebase are the real bellweathers to watch for as they are linked to the amount of money people invest in their houses, to some extent MFI but you can ake furniture with you if you move

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When I first started out in BTL, I furnished bedrooms with MFI furniture at about £350 per room for low quality furniture.

I now get better quality from Ikea for about £225 per room.

That's the competition winning the game IMO.

Indeed, no self-respecting economic mercenary such as yourself is going to pay over the odds for such things, the BTL'ers want to kit out a place for the cheapest amount possible/acceptable, they don't have to live with it, they're not going to opt for expensive furniture (high margin for the retailer) if it needs replacing often, IKEA have picked up on what is essentially a low margin commodity business.

First Time Buyers are the group that spend the most when moving into a property as they have to buy all new appliances and furniture, as we know, this group is a little thin on the ground but we have BTL'ers instead, and for the above reasons they're not an adequate replacement because of the low margins.

Witness the debt monster eating the rest of the economy alive. B)

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When I first started out in BTL, I furnished bedrooms with MFI furniture at about £350 per room for low quality furniture.

I now get better quality from Ikea for about £225 per room.

That's the competition winning the game IMO.

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Thats right folk like you whom are responsible for the demise of MFI, you only furnish your shacks once (joke), & thats been the picture in the housing market for the last few years dominated by BTLrs hence the beginning of the end for the DIY chains in the UK, how much longer before B&Q or homebase go belly up.

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  • 335 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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      • up 5%



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