BrightHouse loan customers unlikely to get refunds, say administrators

BrightHouse offered high-interest loans for items such as fridges, ovens, TVs and sofas. Photograph: Mimi Mollica

Administrators for the collapsed rent-to-own firm BrightHouse, which specialised in loans for big-ticket items such as fridges and sofas, have warned they will not have enough money to compensate thousands of customers who were left with unaffordable debts.

The latest report from the accountants Grant Thornton, which is managing the administration, shows a plan to set aside £600,000 for payouts to customers who may have been mis-sold expensive loans by BrightHouse has been scrapped.