UK: Family-run plumbing firm, the Walker Group, known for its online bathrooms store Victoria Plumb, has paid £250K for the rights to flat-pack furniture business, MFI.

It is unlikely that the MFI brand will re-enter the high street, however. Victoria Plumb is an online-only retailer. And, Home Retail has already purchased the Hygena and Schreiber brands from the administrators.

Mullard Furniture Industries was launched in 1964. It was floated as MFI in 1974, partnered with Asda and Schreiber in the 1980s, then was sold to Merchant Equity Partners in 2006. In 2008, the company underwent a management buy-out, but collapsed before the year end.

There is now a holding page on the website which says: "MFI is being refreshed to offer a more innovative and design-led product range and shopping experience, while continuing the tradition of offering great choice and value for money.

"The MFI brand promises to be one of the most eagerly anticipated events in the retail calendar," the site added.