Rent-to-own retailer Brighthouse on the brink of collapse

by

Rent-to-own retailer Brighthouse on brink of collapse as coronavirus claims another corporate victim

By Daily Mail City & Finance Reporter

Published: | Updated:

Collapse: The demise of rent-to-own retailer  Brighthouse will put 2,400 jobs at risk

Brighthouse is on the brink of collapse as the coronavirus claims its latest corporate victim. 

The demise of the UK’s largest rent-to-own retailer, which lends to customers so they can buy expensive goods such as washing machines and TVs, will put 2,400 jobs at risk. 

It will also mean borrowers who filed mis-selling complaints in recent months will likely receive just a fraction of the compensation they were hoping for. 

Brighthouse fell foul of customers who said they were given high-cost credit which they would never have been able to pay back. 

Claims had been costing the firm around £1million per month. 

But the lockdown, which resulted in the closure of its 240 stores, has caused restructuring talks with stakeholders to fall apart.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.