Brighthouse up for sale amid refinancing race

Fri, 29 Sep 2017 | BUSINESS SALE

The rent-to-own retailer Brighthouse, who has been struggling amid mounting financial pressures, has been put up for sale.

The sales process is likely to begin in mid-October as it makes an effort to refinance £220m of bonds that are due next year.

Brighthouse, owned by private equity company Vision Capital, allows shoppers to pay for goods in weekly instalments, but recent months have seen their earnings crash by 79 per cent to £11.7m after changes to sign-in procedures led to a slump in the number of new customers.

The changes involved including more detailed assessments of customer's incomes and spending in response to a probe into the rent-to-own sector using high-pressure sales tactics and overcharging. For example, an investigation last year found that a £350 washing machine was more than three times as expensive if bought through Brighthouse's weekly instalments.

Three years ago, Vision Capital was preparing the chain for a potential stock market float, but were stopped by concerns about the FCA process resulting in Brighthouse coming under pressure from US hedge funds buying its debt and attempting to wrest control of the business.

Brighthouse's listed bonds are currently trading at 77p on the pound.

Find a business for sale
Subscribe to Business Sale Report


Share this article



Latest Businesses for Sale

Airport Demand & Capacity Consultancy
South East, UK

The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...

Asking Price: Offers Invited
Turnover: £1,309,000

Construction Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...

Asking Price: £1,900,000
Turnover: £1,709,427

LEASEHOLD


Phone & Computer Sales & Repair Business
Liverpool, UK Wide

This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...

Asking Price: £580,000
Turnover: £390,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources