Brighthouse to shut 30 shops and cut 350 jobs

▤ Summary

Brighthouse is shutting 30 of its shops at a cost of 350 jobs amid tough conditions on the High Street and a clampdown on rent-to-own retailers. In its most recent results for the six months to 29 September, Brighthouse reported a rise in pre-tax losses to £22.1m from £19.9m in the comparable period. Meanwhile, the Financial Conduct Authority (FCA) last year announced plans to cap the amount of interest that rent-to-own retailers charge customers. Rent-to-own customers make monthly payments on a product such as a cooker or a television until they have paid in full. "Were also introducing PayPoint, allowing customers to pay BrightHouse in cash at 28,000 locations across the UK."

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