November 26, 2008: British Furniture Retailer Enters Administration, Will Later Collapse

The British furniture retailer MFI goes into administration, as it is unable to pay rent on many its stores. This is because of falling sales of large items such as kitchens. The company has over 100 outlets throughout the country and has been in trouble for some months. Its failure jeopardizes thousands of jobs. [Daily Telegraph, 11/27/2008] The administrators are unable to find a buyer and the group’s stores close on December 19. Customers who have not yet received their furniture are told to apply to the administrator for a refund. The logistics company DHL, which had handled deliveries for MFI, says it will probably also lay off over 300 people as a result of the failure. [BBC, 12/19/2008]