Markets Business Research Reports Exclusives Economy & Finance Law & Policy

U.K. Rent-to-Own Company BrightHouse Near Insolvency, Sky Says

U.K. Rent-to-Own Company BrightHouse Near Insolvency, Sky Says

Tiago Ramos Alfaro

(Bloomberg) --

The U.K.’s biggest rent-to-own retailer, BrightHouse Ltd., has put Grant Thornton on standby to handle its possible administration, Sky News reported, without saying how it obtained the information.

Sky cited a source close to BrightHouse’s shareholders as saying insolvency wasn’t inevitable, but that it had become more likely in recent weeks. BrightHouse’s possible collapse puts 2,400 jobs at risk in the U.K. The company has about 240 stores.

Read more: U.K. Retailer BrightHouse Sees Losses Gather Pace as Sales Fall

Other advisers have been working with BrightHouse to explore its options in recent months.

BrightHouse declined to comment to Sky News.

©2020 Bloomberg L.P.

Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
GET REGULAR UPDATES

RECOMMENDED FOR YOU

CFO Leaders: The Making Of Five Star CFOs 
timelogo Jan 14, 2021
Stocks Rise, Treasuries Fall on Stimulus Bets: Markets Wrap
timelogo Aug 19, 2019
Stocks End Record-Setting Week With Further Gains: Markets Wrap
timelogo Jul 15, 2019
The Mutual Fund Show: The Dos And Don’ts Of Online Investing
timelogo Apr 27, 2019

POPULAR

1
Nestle India Chief Warns Of Continued Downturn In Consumer Spending
2
Coca-Cola Gears Up For IPO Of $8 Billion Africa Bottling Arm
3
IPL 2024: Kolkata Knight Riders Beat Delhi Capitals By Seven Wickets
4
Patanjali Foods Faces Show Cause Notice Over Rs 27.46 Crore GST Dues
5
MCA Approves Appointment Of Hitesh Kumar Sethia As Jio Financial MD And CEO For Three Years