But it has still imposed strict new checks on customers financial status and the tougher criteria, which take longer for stores to apply, have caused a steep drop in sales and profits.
In the year to the end of March, its sales tumbled 13.7pc to £320m as an increasing number of potential customers were disqualified for credit. Hamish Paton, the chief executive, admitted the year had been very tough.
A successful coup will mark the end of a spectacular fall from grace for Brighthouse. Only three years ago, Vision Capital was preparing the chain for a potential stock market float. A heavyweight board led by Henry Staunton, chairman of WH Smith, was appointed to prepare for the listing.
It is understood Vision has tried to retain contr…
Read the full article at: http://www.telegraph.co.uk/business/2017/07/08/us-hedge-funds-plan-brighthouse-takeover-amid-concerns-debt/