RENT-to-own firm BrightHouse is on the brink of collapse putting 2,400 jobs at risk.
The high-cost credit firm will file for administration on Monday, reports Sky News, and will appoint accountancy firm Grant Thornton as administrators.
The firm had been struggling to stay afloat due to a surge in compensation claims over irresponsible lending.
But now investors have withdrawn support for a proposed restructuring plan amid the coronavirus crisis.
The retailer provides loans to vulnerable borrowers to purchase electrical goods such as phones, toasters and washing machines, but with high interest rates.
More to follow…
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