BrightHouse chairman Richard Pym is to leave the rent-to-own retailer after six years in the role.

Pym is said to be leaving to focus on his other roles such as chairman of the Co-operative Bank.

Private-equity owned BrightHouse is in the advanced stages of replacing Pym, who will stay in the role until a replacement is found.

A spokesman said: “Under Richard’s chairmanship, BrightHouse has been one of the fastest-growing retailers on the high street, almost doubling its store count from 150 to 286, and growing its sales at a similar rate, underpinned by a commitment to responsible lending.”

BrightHouse rents and sells home entertainment goods, kitchen appliances, mobile phones and computers and targets low income families through easy access to credit.