THE Haverfordwest branch of rent-to-own retailer BrightHouse is to close next month, with job losses expected.

The Haverfordwest store, based at the town’s Riverside Quay, is to close on March 23, the nearest store is Llanelli.

It is one of 30 closing nationwide.

BrightHouse is a weekly payment retailer, selling home furniture, appliances, and computing.

A BrightHouse spokesman said: “We have taken the very difficult decision to close 30 stores in the next two months. All employees affected by our proposals have been informed.

“We are working to redeploy as many people as possible into alternative roles, but redundancies will be inevitable.

“We will be speaking to all customers affected by the store closures and either transferring them to another local store or serving them online. We’re also introducing PayPoint, allowing customers to pay BrightHouse in cash at 28,000 locations across the UK.”

On its website, BrightHouse stated: “We would like to reassure all our valued customers that if your store is closing, this will have no effect on your agreements, and when the store is closed we will safely transfer your agreements to what we believe is your nearest local store. If you would prefer a different store, we can help you through that transition.

“You are welcome to continue making payments in your new store. We know that this might be further for you to travel, so if you prefer, there are other ways to pay.”

On its website, BrightHouse states: “Our unique rent-to-own proposition, developed over more than 20 years, enables our customers to purchase these products through regular payments. We are a responsible lender. Customers have greater flexibility by choosing to take up agreements over variable terms, usually one, two, and three years.”

It lists a representative APR of 69.9 per cent.

Back in November, The Financial Conduct Authority proposed to introduce a price cap on the rent-to-own (RTO) sector. The cap, subject to consultation, will come into force on April 1.

Under the proposed cap, credit charges cannot be more than the cost of the product, meaning double the original price, for example if a washing machine costs £300, customers will pay no more than £600.