Sale of Very Group Shelved Due to Lack of Bidders
The auction of the UK-based online retailer Very Group has been put on hold after bidders failed to meet Carlyle's £2bn asking price. The company, previously owned by the Barclay family and now controlled by US private equity firm Carlyle, was placed up for sale following a debt dispute with Lloyds Banking Group in 2025. Potential buyers such as JD.com, Elliott Investment Management, and N Brown did not submit sufficient offers to satisfy Carlyle's valuation demands. Very Group reported a pre-tax loss of over £500m on sales of around £2.1bn for the last financial year but has shown signs of recovery in recent trading updates. Revenue increased slightly by 0.3% to £1.6bn, and full-year profits are projected between £310m and £320m. Carlyle injected £150m into Very earlier this year to stabilize the business. The shelving of the sale means Carlyle may be forced to retain ownership indefinitely unless it revises its asking price or finds alternative buyers.
