According to The Retail Gazette and other news outlets including The Times, online retail specialist, The Very Group online retail operation – which has a significant Toys section – is set to appoint Barclays, JP Morgan, and Morgan Stanley to manage a strategic review. This could potentially mark the end of the Barclay family’s long-standing ownership of the ecommerce giant.
The investment banks’ appointments are likely to be confirmed within days and are likely to kickstart a full or partial auction of The Very Group.
Retail industry insiders speculate that the business, which owns very.co.uk and littlewoods.com, is likely to be valued in the region of £2.5 billion.
The Barclay family look likely to lose control of the last pillar of their corporate empire if the banks find a new owner. The family has been selling off many of its significant assets in recent years, including The Ritz Hotel, The Spectator magazine and ultimately The Telegraph newspapers.
The Times’ coverage has a quote from a spokesman for The Very Group, who said: “Following recent media speculation, we reiterate that during 2025 we will put in place the right mix of debt and equity for the capital structure to drive growth in years to come.”
In related, but healthier news (for the Big Boys at least) Amazon Prime day started yesterday and runs until midnight tonight – 9 October. This also has a significant toys section.
