Latest news with #MarkRadcliffe
Western Telegraph
19-05-2025
- Business
- Western Telegraph
MFI to return to UK shopping scene 20 years after closure
The brand went into administration in 2008 following financial trouble. But, MFI is not set to undergo a huge transformation with a £3 million 're-invention', seeing stores open in the second half of 2026. British furniture brand MFI to return to UK MFI was once one of the UK's largest suppliers of kitchen fittings and bedroom furniture, and in May last year, the brand was acquired by Victorian Plumbing. According to Metro, MFI will be a standalone online homeware business that focuses on bedrooms, living rooms, dining rooms, hallways, and home accessories. Victorian Plumbing told investors yesterday that the brand will be run by a "dedicated and experienced management team". Although it will be an online brand, MFI will open two warehouses in Skelmersdale, Lancashire. Discussing the return of MFI, founder and chief executive Mark Radcliffe said: "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market. Recommended Reading "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop. "Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend."
Yahoo
18-05-2025
- Business
- Yahoo
MFI Retail Chain Back After Collapsing Nearly 20 Years Ago
Nearly 20 years after collapsing into administration a beloved retail chain is making a surprise comeback. MFI is set to make its grand return to the United Kingdom after falling into administration in 2008 following the global financial crisis. The retail business was originally founded in 1964 as Mullard Furniture Industries by Noel Lister and Donald Searle. At one point the retail giant had more than 200 stores across the UK and delivered more than 50 million items a year before the introduction of Ikea to the area. Once one of the largest suppliers of kitchens and bedroom furniture in the country, MFI was "quietly obtained" by Victorian Plumbing in May 2024 before its reinvention of the brand to come in late 2026, according to a report from This is Money. "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market," founder and chief executive Mark Radcliffe said in a statement. "Our dedicated and ambitious team, decades of e-commerce knowledge and best-in-class proprietary software, together with the recognizable MFI brand, will help to deliver our strategic ambition over the medium-term." The MFI brand was initially purchased by Victoria Plum after it fell into administration and was relaunched as an online only retailer November 2011, but lasted less than four years before it ceased operation again in July 2015. "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half," Radcliffe added in a forecast for the new venture. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop."
Powys County Times
17-05-2025
- Business
- Powys County Times
MFI to return to UK shopping scene 20 years after closure
British furniture brand MFI is set to return to UK high streets nearly 20 years after its closure. The brand went into administration in 2008 following financial trouble. But, MFI is not set to undergo a huge transformation with a £3 million 're-invention', seeing stores open in the second half of 2026. British furniture brand MFI to return to UK MFI was once one of the UK's largest suppliers of kitchen fittings and bedroom furniture, and in May last year, the brand was acquired by Victorian Plumbing. According to Metro, MFI will be a standalone online homeware business that focuses on bedrooms, living rooms, dining rooms, hallways, and home accessories. Victorian Plumbing told investors yesterday that the brand will be run by a "dedicated and experienced management team". Although it will be an online brand, MFI will open two warehouses in Skelmersdale, Lancashire. View this post on Instagram A post shared by Victorian Plumbing (@victorianplumbinguk) Discussing the return of MFI, founder and chief executive Mark Radcliffe said: "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market. All the major stores closing in May from Next to Morrisons Lloyds, Halifax, Barclays and more bank branches closing in 2025 - full list "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop. "Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend."
Glasgow Times
17-05-2025
- Business
- Glasgow Times
MFI to return to UK shopping scene 20 years after closure
The brand went into administration in 2008 following financial trouble. But, MFI is not set to undergo a huge transformation with a £3 million 're-invention', seeing stores open in the second half of 2026. British furniture brand MFI to return to UK MFI was once one of the UK's largest suppliers of kitchen fittings and bedroom furniture, and in May last year, the brand was acquired by Victorian Plumbing. According to Metro, MFI will be a standalone online homeware business that focuses on bedrooms, living rooms, dining rooms, hallways, and home accessories. Victorian Plumbing told investors yesterday that the brand will be run by a "dedicated and experienced management team". Although it will be an online brand, MFI will open two warehouses in Skelmersdale, Lancashire. Discussing the return of MFI, founder and chief executive Mark Radcliffe said: "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market. Recommended Reading "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop. "Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend."
Yahoo
17-05-2025
- Business
- Yahoo
MFI Retail Chain Back After Collapsing Nearly 20 Years Ago
Nearly 20 years after collapsing into administration a beloved retail chain is making a surprise comeback. MFI is set to make its grand return to the United Kingdom after falling into administration in 2008 following the global financial crisis. The retail business was originally founded in 1964 as Mullard Furniture Industries by Noel Lister and Donald Searle. At one point the retail giant had more than 200 stores across the UK and delivered more than 50 million items a year before the introduction of Ikea to the area. Once one of the largest suppliers of kitchens and bedroom furniture in the country, MFI was "quietly obtained" by Victorian Plumbing in May 2024 before its reinvention of the brand to come in late 2026, according to a report from This is Money. "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market," founder and chief executive Mark Radcliffe said in a statement. "Our dedicated and ambitious team, decades of e-commerce knowledge and best-in-class proprietary software, together with the recognizable MFI brand, will help to deliver our strategic ambition over the medium-term." The MFI brand was initially purchased by Victoria Plum after it fell into administration and was relaunched as an online only retailer November 2011, but lasted less than four years before it ceased operation again in July 2015. "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half," Radcliffe added in a forecast for the new venture. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop."
