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BRC warns over warranty probe
The British Retail Consortium (BRC) has warned an Office of Fair Trading (OFT) investigation into the sale of extended warranties on electrical goods could be costly and achieve little. The OFT says customers could be losing out on up to £350m after shelling out on lengthy warranties and wants to make sure they are getting value for money. An OFT investigation will conclude in the summer and could end with action against suppliers or a referral to the Competition Commission. However, the BRC pointed to an earlier investigation, in which strict new rules were placed on the sale of warranties. A spokesman told City A.M.: “It’s hard to see what another costly investigation will achieve.”