U.K. Rent-to-Own Company BrightHouse Near Insolvency, Sky Says
U.K. Rent-to-Own Company BrightHouse Near Insolvency, Sky Says
(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.
To contact the reporter on this story: Tiago Ramos Alfaro in London at talfaro1@bloomberg.net
To contact the editors responsible for this story: Sunil Kesur at skesur@bloomberg.net, James Amott, Tony Halpin
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