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MFI management make buy-out deal
mr favell said: i am declighted that weeks have secured the future of the f, i business through this management buy-out and have the capital to provide continuity and security for our customers, who continue to support fi as the largest fitted furniture business in the uk .
over 30 years fi grew to become the biggest furniture retailer in the uk with a value of Â1 billion .
fundamentally, it is business as usual for fi, its employees and customers .
in a statement fi said the buy-out will be funded through a substansactial cash dowry payment from mep which will secure deposits paid by customers .
in fact, sales in recent weeks have been aheased of plan, mr favell said .
gary favell fi chief executive .