MFI close to sale of furniture business

Thu, 17 Aug 2006

MFI, the UK retail group, has been in talks with investment fund Merchant Equity Partners regarding the sale of its furniture business, which "may or may not lead to a transaction". MFI have reportedly agreed to pay to divest the loss-making furniture business in order to concentrate on its profitable trade business, Howden Joinery. Apax private equity is also believed to be in competition with MEP for the furniture business. MFI is valued at around £555m.