Key facts
- The Very Group's auction has been terminated because potential buyers did not meet the £2 billion asking price.
- US private equity firm Carlyle Group, which took ownership of the retailer for £1 in late 2025, initiated the sale process.
- Barclays and JPMorgan were hired to manage the auction, which was expected to take several months.
- The Very Group operates under the Very and Littlewoods brands and has over £2 billion in annual revenue.
- Recent financial results showed a decline in group retail sales, though its sports offering saw growth.
The Very Group, a UK online retailer, has called off its auction after potential buyers failed to meet the approximately £2 billion asking price. US private equity firm Carlyle Group, which acquired the company for a nominal £1 in late 2025 following a restructuring, had hired Barclays and JPMorgan to manage the sale process.
Reports indicated that firms such as Elliott Advisors and Chinese e-commerce giant JD.com had expressed interest in acquiring The Very Group. However, the auction has now been terminated due to the valuation gap.
The company, which operates the Very and Littlewoods brands, reported mixed trading results. While its sports offering saw growth, the overall fashion segment declined, contributing to a 1.6% drop in group retail sales to £1.2 billion for the 39 weeks ending March 28, 2026. Despite these challenges, adjusted EBITDA rose 15.9% to £307.1 million in the annual figures published in late 2025, though the group posted a pre-tax loss of £505.4 million.
Carlyle had previously provided significant funding to The Very Group, including a £150 million injection in February as part of a refinancing deal that extended its securitisation facility to 2029 and a revolving credit facility to 2030. This refinancing was intended to strengthen the group's capital structure and position it for future growth.