BrightHouse falls into administration as coronavirus shuts shops
Rent-to-own retailer BrightHouse has filed for administration, as the coronavirus pandemic has forced shops to close.
The retail giant was already struggling with struggling after an influx of compensation claims for selling to people who could not repay, before the coronavirus pandemic forced shops to close.
Julie Palmer, from corporate recovery business Begbies Traynor, told the BBC: "Coronavirus was the final nail in the coffin for BrightHouse."
BrightHouse has 240 shops and 2,400 employees, whose jobs are now at risk.
Customers should continue to make payments to keep their goods, with administrators now acting as the collecting agent.
Many customers find it difficult to access credit to pay for household goods such as fridges, TVs, and washing machines.
Failing to make repayments, even now the company is in administration, could lead to further charges and bring down credit scores.
The news comes on the same day that restaurant chain Carluccio's filed for administration.