BRIGHTHOUSE is to shut its Haverfordwest store as part of a restructuring process which will see 30 stores go nationwide and 350 jobs being cut
The company is closing about 10% of its estate which will take place over the next two months.
Brighthouse, which employs about 3,000 people, said it had informed staff.
A spokesman said: “We are working to redeploy as many people as possible into alternative roles but redundancies will be inevitable.”
In its most recent results for the six months to 29 September, Brighthouse reported a rise in pre-tax losses to £22.1m from £19.9m in the comparable period.
Meanwhile, the Financial Conduct Authority (FCA) last year announced plans to cap the amount of interest that rent-to-own retailers charge customers.
Brighthouse specialising in giving credit to those with poorer credit ratings, but at a higher interest rate
The FCA has ruled that from April, the maximum interest paid will be no more than the cost of the product itself. So, if a fridge costs £200, customers will pay no more than £400.
The price of the goods themselves will also be cut to no more than the median – the middle price – of three mainstream retailers.
Commenting on the closures, a spokesman for Brighthouse told The Herald: “We will be speaking to all customers affected by the store closures and either transferring them to another local store or serving them online.
“We’re also introducing PayPoint, allowing customers to pay BrightHouse in cash at 28,000 locations across the UK.”
Haverfordwest: Brighthouse to shut local branch following change in law over interest charges
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