BrightHouse collapses into administration
- Credit: Copyright: Archant 2017
BrightHouse has collapsed into administration - putting jobs and its three stores in Norfolk at risk. The weekly payment store has now called in administrators Grant Thornton to take over the business.
BrightHouse has stores in King’s Lynn’s Vancouver Quarter, in Great Yarmouth and in Norwich.
Overall it has 2,400 members of staff ad 240 stores.
Details about potential closures or job losses have not been revealed.
John Colley, associate dean at Warwick Business School, said: “Those companies without cash or only limited availability of credit have a major problem.
You may also want to watch:
“Many businesses simply do not have access to adequate cash or credit lines and will disappear during the next six months, only the strongest will survive.
“Unless there is significant government underwriting of bank debt many loans will be foreclosed and banks will not be keen to increase their exposure. “In effect this is Darwinist survival of the fittest compressed into six months. Business will not be the same again.”
- 1 Machinery sale marks end of family's 100-year farming history
- 2 'Max Factor lady' - Tributes to adored gran who died in M11 layby
- 3 Ghosts of business past: Empty shop units for rent for £100,000
- 4 Roads flooded on east coast after heavy rain
- 5 Warning over 'Amazon' cold call recordings scam in Norfolk
- 6 'Oh no, not another one' - lake drowning triggers soul-searching over safety
- 7 Two Norfolk villages named among most beautiful to visit in England
- 8 'An insult - Matt Hancock accused over secret visit to crumbling hospital
- 9 Pub has to close indefinitely as town cleans up after floods
- 10 City recruitment chief linked with Boro exit