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Brighthouse to close 30 stores

Rent to buy furniture and electricals chain Brighthouse is to close 30 branches.

The stores - about 10% of the chain – will close over the next two months and could effect 350 staff.

In the six months to 29 September 29 pre-tax losses rose from £19.9m to £22.1m. Last year the Financial Conduct Authority said from this April the maximum interest paid on a product could not be more than the cost of the product.

It also said the price of products could be no higher than the average price of three mainstream retailers.

The stores to close are: Aylesbury, Basingstoke, Bognor Regis, Bromley, Cowley, Dunstable, Eccles, Gravesend, Haverfordwest, High Wycombe, Leeds Merrion, Macclesfield, Maidstone, Newark, Newport (IoW), Nuneaton, Perth, Rugby, Scarborough, Seaham, Selby, Southport, Stafford, Stirling, Thetford, Trowbridge, Watford, Weymouth, Whitehaven and Yeovil.