Very Group owner the Barclay brothers have been told to “lower their expectations” on their hunt for a buyer for the retailer.
The brothers put the online department store up for sale earlier this year in a bid to tackle its mounting debts.
It is understood the Barclays have agree to offload the entire Very Group business or a stake in it.
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The group, which owns very.co.uk and littlewoods.com, was previously valued at £4bn.
However, retail analyst Jonathan De Mello told This is Money that its owners “need to lower their expectations if they want to attract a private equity buyer”.
He said that Very has “generated little interest”. Frasers Group, Zalando and Next all understood to be considering an offer for the retailer.
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