Adam French, Which? Consumer Rights Expert, said:
“Few former customers will mourn the loss of BrightHouse which has been embroiled in a mis-selling scandal since 2017, however its imminent collapse will be concerning for employees and those still waiting to resolve claims against the firm.
“If the retailer goes bust, an administrator is likely to oversee the scores of mis-selling claims lodged against the firm. However, claimants may have to wait longer for their compensation and receive a smaller sum.
“Current customers with outstanding debt will be expected to keep making repayments to the administrator in the event of a collapse. While those with a warranty policy may still be able to make a claim if their product is faulty.”
Notes to eds
Which? advice on what to do if BrightHouse goes bust is available here: https://www.which.co.uk/news/2020/03/brighthouse-on-the-brink-what-could-it-going-bust-mean-for-debts-or-compensation-claims/