BrightHouse’s private equity owner has appointed advisers to examine the potential for an IPO.
Vision Capital, which has owned the rent-to-own electricals and appliance retailer since 2007, has called on Rothschild to look at all options for BrightHouse, which include a possible flotation.
BrightHouse revealed the appointment in a trading statement to bondholders on Wednesday, according to the Financial Times.
BrightHouse reported EBITDA up 10% against last year to £52.6m for the year to March 31. But it did not give bondholders a company valuation.
BrightHouse’s sales jumped 12.2% to £333.3m and like-for-likes increased 6.9%. The retailer opened seven shops last year, taking its store count to 286. But BrightHouse told Retail Week in July that it revised down its store expansion targets from the 650 it forecast four years ago to between 400 and 450 because of the growing popularity of its online offer.
If BrightHouse goes ahead with the IPO it will become the latest in a series of retail IPOs this year, which include Poundland, B&M and Pets at Home.