BrightHouse, Britain’s biggest rent-to-own operator, has collapsed, with administrators Begbies Traynor now attempting to salvage parts of the business.
The operator’s customers should continue to make the monthly payments required to keep their household goods, with administrators now acting as the collecting agent. BrightHouse had been struggling after an influx of compensation claims from current customers who could not repay.
However, the ongoing Covid-19 outbreak has further impacted the business.
Julie Palmer, from Corporate Recovery Business Begbies Traynor, said: “Coronavirus was the final nail in the coffin for BrightHouse.”
BrightHouse has almost 250 shops and more than 2,400 employees across Britain.