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Last Updated: Friday, 19 May 2006, 08:51 GMT 09:51 UK
MFI 'has offers for its business'
MFI sign
Competition has increased in the UK retail sector
UK furniture group MFI, which is in the midst of a broad restructuring, has been approached by buyers wanting to acquire all or part of its business.

The company said it had been contacted by a "number of third parties" and was "evaluating this interest".

Earlier this year, MFI unveiled a turnaround plan that involved shutting stores, selling its Sofa Workshop chain and shedding as many as 1,500 jobs.

The company said earnings were still under pressure as orders had fallen.

MFI, one of the UK's best-known furniture retailers, said orders had fallen 19% since 26 December on an annual basis.

The company said it now planned to focus on its "store portfolio and local distribution model", adding that "this will involve cost and considerable executional challenges".


SEE ALSO:
MFI revamp threatens 1,500 jobs
28 Feb 06 |  Business
MFI revamp threatens 1,500 jobs
28 Feb 06 |  Business
Declining sales continue at MFI
01 Dec 05 |  Business
MFI head steps down as sales dive
03 Oct 05 |  Business


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