Jobs fears in Harlow as Brighthouse “on brink of collapse”
Business / Sat 29th Feb 2020 at 01:29pm
BRIGHTHOUSE, Britain’s biggest rent-to-own retailer, is teetering on the brink of collapse this weekend following a surge in customer compensation claims.
Sky News has learnt that the company has been forced to put administrators on standby, with insolvency possible in a matter of weeks.
If it did fall into administration, roughly 2400 jobs could be put at risk.
There is a store in the Harvey Centre.
BrightHouse has been struggling financially for years, with its most recent restructuring in 2017 designed to put the business on a more stable footing.
The company, which provides loans to consumers to purchase electrical items such as televisions and washing machines, trades from about 240 stores across the UK.
Sources said on Saturday that Grant Thornton has been asked to handle a potential insolvency.
The accountancy firm has overseen the administrations of payday lenders including Wonga and QuickQuid in recent years.
durcant
2020-02-29 14:18:48
this type of business that set impossible rates of interest and encourages people to struggle financially, in my personal view this type of business as no place on a high street or on any street. Whilst it’s another loss to the high Street and local people may be made redundant ,this is shop that won’t be missed.
jarrett
2020-02-29 18:14:36
Good riddance to the leeches, perhaps someone should look at prepay energy meters.
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