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Fears for Derry MFI store



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Published Date: 10 October 2008
Speculation is mounting that furniture giant MFI is to close its store in Derry's Waterside.
It's believed up to six people are employed at the Crescent Link outlet
and that it may shut up shop in the next few weeks.

Earlier, this week, the ailing furniture chain put its retail and property divisions into administration following the completion of a management buyout (MBO) which secured the future of 106 of its 187 stores.

The remaining 81 stores - including the Crescent Link outlet - head office and distribution centre are continuing to trade in administration while the joint administrators consider a range of options for their future.

Fraser Gray, a partner at Kroll - the restructuring specialist appointed to oversee the process - said: "The completion of a management buyout prior to our appointment as administrators means that a substantial part of MFI has already been saved.

Despite the turbulent trading conditions in the retail sector, we are currently in discussions with a number of potential purchasers – including the management buyout team - for the companies' head office, distribution centre and remaining stores."

All MFI customers will be receiving a letter over coming days reassuring them that their orders will be fulfilled. Customers who require further information can visit www.mfi.co.uk or contact customer service representatives on 0870 607 5054.

The full article contains 222 words and appears in n/a newspaper.
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  • Last Updated: 10 October 2008 12:14 PM
  • Source: n/a
  • Location: Derry
 
 

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