Oldham is one of MFI’s doomed stores

Oldham’s MFI store will shut, administrators have confirmed.

A management buy out last month secured the future of 106 stores.

But the Green Street store, off Manchester Street, is one of 81 MFI outlets in administration which will close. Oldham, along with Rochdale and Ashton, is among 18 North-West stores closing down.

Administrators Kroll have taken out half-page newspaper advertisements for “80 per cent off” sales at the doomed stores.

The administrators now say they have started to wind down some of these stores and sell off their assets.

However Kroll, which specialises in restructuring ailing firms, said it was still talking to a number of possible buyers for some of the stores.

Liberal Democrat Oldham East and Saddleworth Parliamentary hopeful, Elwyn Watkins, aid he was disappointed with the news.

He added: “I think, sadly, that this may be the first of many of this kind of closure considering the current economic situation.

“I am very disappointed that the management could not include the Oldham and Rochdale stores as part of the restructuring of the business.

“This week National Statistics showed the biggest rise in unemployment in 17 years. As the economic climate worsens we need to see decisive Government action to retain jobs.”

It is not know how many jobs will be lost at the three local stores.