Brighthouse Thrives in Recession
BrightHouse the national retail store who specialise in the sale of home electronic and domestic appliances, household furniture and related products is proud of its links with Rays of Sunshine Children’s Charity.
Brighthouse help the charity make kids with serious illnesses dreams comes true, purchase equipment for those children as well as indispensible equipment for the hospitals and schools that care for them. Over the last three years they have received support from a host of companies including British Airways and clothing outlet Next. In 2008 BrightHouse became the charity’s largest corporate sponsor. This has been made possible by the growth of the business in general.
One of the most commonly observed things recently is that one of the highest growth areas of lending is ‘buy now pay later’ finance available on the high street such as BrightHouse. People making use of low or no interest deals are shopping prudently and making their hard earned money go further by spreading the cost of high-value essentials such as couches and consumer goods over a period of months. With the reduction in peoples spending, it seems that every retailer is getting in on the act and offering tempting finance deals.
BrightHouse was created out of Thorn-EMI, the owner of Radio Rentals, by Terra Firma, Guy Hands’s private equity group. It gained infamy for exorbitant APRs and expensive mandatory extra cover. Nowthe retailer is on the front foot, working to clean up both its branches and its name as it embarks on a very ambitious growth programme. It plans to open 21 outlets next year and estimates that there is room for at least 600.
It’s important that Brighthouse bare in mind that credit card companies have come under fire recently for some of the extortionate interest rates and tricks used to squeeze every last penny out of their customers. Brighthouse do not want to be percieved as doing the same thing. The rise of the world wide web has presented the banks with a unique challenge to deal with as customers now have close to perfect knowledge of the market and can all too easily and quickly find a better deal, you no longer have to have the business knowledge of a top financier to avoid such pitfalls.
