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 PE teacher banned after getting drunk and showing her breasts at school prom
- 2 Would you know what to do if your car hit a deer?
- 3 Green light for new Tesco store in town centre
- 4 What counts as a substantial meal under Norfolk's tier 2 pub rules?
- 5 Man arrested after woman suffers broken collar bone in row over mask
- 6 'It's nonsense': Shoppers react to Norfolk's Tier 2 announcement
- 7 Commuter trains halted as Norwich to London line blocked
- 8 New appeal as pregnant woman goes missing again
- 9 Several weeks into lockdown, Norfolk sees sharp decline in coronavirus infection rates
- 10 PRESSER LIVE: Norwich City v Coventry City - Krul out three weeks; Pukki out this weekend