BGN Entrepreneur

The furniture chain MFI, which is one of the UK’s best-known retailers is on the brink of collapse today, leaving more than 1500 workers in 110 stores across the UKfearing for their jobs.
The crisis at MFI has been caused by poor sales and a row over rents. The company’s position as market leader was hit by the growth of rival stores, such as Ikea, B&Q and Home base, and sales have slipped further in the housing slump.
Chief executive Gary Favel is asking for a three-month “rent-free” period from land lords to give the company breathing space, but unless a deal can be agreed, it faces administration.

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