Up to 2,400 jobs across the country - including those at three Gloucestershire stores - could be at risk as rent-to-own retailer BrightHouse is reportedly nearing insolvency.

Sky News are reporting that the retailer is on the brink of collapse, putting all 2,400 members of staff at risk of redundancy.

The Watford-based firm have put Grant Thornton on standby to handle the administration process should it be needed, according to the Sky News report.

BrightHouse has seen a surge in customer compensation clams after the Financial Conduct Authority ruled that it was failing to act as a "responsible lender" in 2017.

That forced the company to restructure its operations in order to establish firmer foundations, but it appears not to have worked.

The Sky News report said that the firm are dealing with £1million worth of compensation claims each month.

BrightHouse provide loans to customers for purchase of large electrical items and operates from 240 locations across the UK.

It has stores in Clarence Street in Gloucester and on Winchcombe Street in Cheltenham.