The board of MFI is poised this weekend to approve the sale of its struggling retail business to Merchant Equity Partners, in a deal that will see the furniture chain pay its acquirer a “dowry” of around £100m.
Under the terms of the deal, the 42-year-old furniture chain is thought to have agreed to pay MEP a dowry to take the lossmaking business off its hands so it can concentrate on its profitable Howden Joinery trade business.
References: Financial Times 16/09/06 page 16, The Times 16/09/09 page 56, Daily Telegraph 16/09/09 page 28
