BrightHouse bosses set for flotation windfall
HOUSEHOLD goods chain BrightHouse is mulling a stock market listing which could generate a payday of up to £100million for senior managers.
Vision Capital – owner of Britain’s biggest rent-to-own company which offers credit on televisions, furniture and kitchen appliances – is understood to have hired investment bank Rothschild to look at strategic options including a potential float.
A valuation of between £500million and £750million would give the bosses a stake worth nearly £100million at the upper end of the range
Vision Capital owns 87 per cent of the 286-store group with the rest held by senior managers under chief executive Leo McKee.
A valuation of between £500million and £750million would give the bosses a stake worth nearly £100million at the upper end of the range.
BrightHouse is looking to expand to at least 400 stores, having increased annual revenue by 12.2 per cent to £333.3million, with pre-tax earnings up 10.1 per cent to £52.6million.