Very Group owner Carlyle is reportedly planning to sell the business for £2bn after its acquisition from the Barclay family last year.
The private equity firm is lining up Barclays and JP Morgan to handle the sale of the company, Sky News reported, which is expected to commence imminently.
The Barclay family previously drawn up a series of plans to offload the etailer.
The proposal to carry out an “immediate” sale process of Very Group was disclosed in a Companies House filing by administrators to VGL Holdco, a corporate entity which now has no connection to Very’s operations.
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The filing said: “An M&A process run by the purchaser will commence immediately with the appointment of an M&A Advisor, who will then begin preparatory work prior to the formal launch of the M&A process.
“The overall process is expected to run on a basis and timescale consistent with what would be expected for a business the size of the operating group.”
PwC was appointed to oversee the insolvency of VGL Holdco in November, which enabled Carlyle to assume control for the token sum of £1.
Retail Gazette has contacted Very Group for comment.
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