Staff jobs at risk after rent-to-own company BrightHouse sinks into administration

BrightHouse, which operates a large store in Broadway, has announced the appointment of administrators to run the business and collect money from customers.

The company runs 240 stores nationally and has appointed Grant Thornton as administrators putting 2,400 jobs at risk.

The move means there will not be any more rent-to-own sales but customers will still get their appliances looked after by the company, until their contracts run out, at which point the business will wind up.

Administrators were appointed to Caversham Finance Limited, which trades as BrightHouse, and Caversham Trading Limited (CTL), which supports the business's logistics, warranty and insurance claims, on Monday morning.

Administrators said they "will continue to trade the businesses in line with Government guidance as to remote working or, where essential services are being carried out, only in circumstances where we can provide for employee and customer safety."

The businesses had already started remote working before administrators were appointed, in response to the coronavirus outbreak. All stores were already closed.

The administrators said: "The logistics and engineering business of CTL will continue to assist in dealing with those customers who have claims for essential home item repairs and will continue deliveries of smaller items to customers' doorsteps, to ensure where possible, customers' products remain in working order."