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Furniture chain MFI closes down Furniture chain MFI closes down
(21 minutes later)
Administrators at furniture retailer MFI say the firm has now ceased trading, with the loss of 1,400 jobs.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 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.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 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.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.The administrators could not say what redundancy payments would be made to the staff who had lost their jobs.
Refunds offeredRefunds offered
Customers with outstanding or incomplete orders have been advised to apply for a refund.Customers with outstanding or incomplete orders have been advised to apply for a refund.
MFI FACTS Founded in 1964 as Mullard Furniture IndustriesMullard was the maiden name of the wife of one of the co-foundersStores sold for just £1 in 2006 to private equity firm Merchant Equity PartnersManagement buyout in September involved 110 stores MFI: A historyMFI FACTS Founded in 1964 as Mullard Furniture IndustriesMullard was the maiden name of the wife of one of the co-foundersStores sold for just £1 in 2006 to private equity firm Merchant Equity PartnersManagement buyout in September involved 110 stores MFI: A history
Those who paid by credit card or Visa debit card should contact their card providers.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.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.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.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.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.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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