Reported Management Buyout of MFI Retail
29 September 2008
Galiform notes the announcement made on 28 September 2008 by MFI Retail Limited that its management has agreed terms for a management buyout ("MBO") of the MFI business.
Until details of the MBO have been confirmed and any associated plans for restructuring the MFI Group have been made known to the Board, Galiform is not in a position to determine the implications for itself, and in particular whether or not it may be called upon to meet financial obligations arising from the guaranteed leases referred to in previous announcements.
Galiform will update the market as soon as further information becomes available.
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