Two senior directors at turnaround specialist Hilco are understood to have joined the board of furniture giant MFI in a move that throws further speculation on the retailer’s future.

Hilco UK chief operating officer Andrew Pepper and chief executive Paul McGowan joined the board of MFI’s ultimate parent company MEP Mayflower. According to Companies House, they were appointed in May.

At the same time, according to the Sunday Telegraph, MFI chief executive Gary Favell resigned from the board of MEP Mayflower although he remains on the board of MFI and its immediate parent company.

Earlier this month, MFI called in Kroll Talbot Hughes to bolster its “under resourced finance function”. An MFI spokesman denied Kroll had been brought in because the business is in trouble.

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