Nothing but bad news, it appears these days...
Administrators at furniture retailer MFI say the firm has now ceased trading, with the loss of 1400 jobs. The company's 111 stores have now all been closed and customers with outstanding orders will be refunded.
Founded in 1964 as Mullard Furniture Industries, MFI was once Britain's top furniture retailer, specializing in selling home-assembled, flat-packed furniture to aspiring homeowners. However sales had fallen in recent years due to competition from rivals such as Ikea, and MFI went into administration in November 2008 as the downturn in the housing market took its toll.
Furniture chain MFI closes down
MFI follows the demise of Woolworths, which went into administration last month and is expected to close by 5 January 2009 with the loss of 27,000 jobs.
The recession has hit the high street and for most businesses, it is now adapt or perish...
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