Rent-to-own retailer Brighthouse, which has stores in Bradford and Keighley, is to press on with expansion plans despite the gloom afflicting other parts of the high street.

The group, which currently has 228 stores, will open another 30 this year as part of a long-term aim for a chain of 650 outlets across the UK.

They are expected to be in Skipton and Horsforth, Leeds, among other Yorkshire towns and cities.

Sales in the year to March rose by 15.4 per cent to £227.7 million, with like-for-like sales rising by 9.2 per cent.

The firm said that despite the wave of retail firms folding, its business remained ‘relatively buoyant’, adding that the gaps now appearing on the high street following the closures will help its expansion programme, especially if spots become free near to the giant chains that have a lot of customers passing through.

In recent weeks, Jane Norman, TJ Hughes and parts of Habitat group have gone into administration, while Thorntons, Carpetright and Mothercare have all announced widespread store closures.

“The majority of our customers do not own cars, so we are very much in the high street,” chief executive Leo McKee said.

Brighthouse has also benefited from the economic downturn because it extends credit to its customers at a time when banks are lending less.

It supplies 200,000 customers, many of whom are cannot get credit elsewhere, with big ticket items such as laptops, TVs and furniture.

Payments are made over three years at a rate of interest of about 30 per cent, but despite criticism over the eventual cost of items, the group insists it is a responsible lender that serves families in some of the most socially deprived ar-eas of Britain. Mr McKee said: “We understand their needs and they value the convenience of making weekly payments.”

He added that 40 per cent of new customers come from referrals.

Underlying profits in the year to March rose by 16.4 per cent to £39.7 million, with margins stable and consistent debt management.

The company, which employs over 2,600 staff, is owned by private equity firm Vision Capital.

Meanwhile, department store chain John Lewis’s sales jumped by 20.1 per cent in the week to June 25 as its clearance sale got off to a ‘flying start’.

Excluding VAT, sales were up 18.2 per cent year-on-year. All shops were ahead of the previous year, with newer shops in Cardiff, Leicester and Trafford building some real momentum, the retailer said.

And high street giant Next has sold Club 24 Ltd, its third party customer contact specialist, to outsourcer Capita for £65 million. Club 24, which trades as Ventura, employs 8,000 people in Yorkshire, Cardiff, Milton Keynes and Pune, India.

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