An auction of the retail empire formerly owned by the Barclay family is set to be shelved after bidders failed to meet the £2bn asking price.
Very Group, the online retailer that also owns the Littlewoods brand, was bought by US private equity firm Carlyle for a nominal £1 sum last year and subsequently put up for sale.
But plans to sell the company now appear to be in jeopardy after none of the potential suitors, which included Chinese online giant JD.com, came up with offers large enough to meet Carlyle's demands, Sky News reported.
Carlyle, which had been Very's main creditor, seized control of Very in November following the collapse of the Barclay empire amid a dispute with Lloyds Banking Group about unpaid debts.
In addition to JD.com, possible bidders are said to have included investment firm Elliott, which owns Waterstones, and plus-size online retailer N Brown, which owns the Jacamo and Simply Be brands.
#owns #group #bidders #meet
Very Group, the online retailer that also owns the Littlewoods brand, was bought by US private equity firm Carlyle for a nominal £1 sum last year and subsequently put up for sale.
But plans to sell the company now appear to be in jeopardy after none of the potential suitors, which included Chinese online giant JD.com, came up with offers large enough to meet Carlyle's demands, Sky News reported.
Carlyle, which had been Very's main creditor, seized control of Very in November following the collapse of the Barclay empire amid a dispute with Lloyds Banking Group about unpaid debts.
In addition to JD.com, possible bidders are said to have included investment firm Elliott, which owns Waterstones, and plus-size online retailer N Brown, which owns the Jacamo and Simply Be brands.
#owns #group #bidders #meet
2 hours ago
