Auction of Very Group halted as bidders fail to hit £2bn asking price

Katie Searles
The Very Group
EcommerceNews

The sale of multi-brand online retailer Very Group is close to being scrapped, according to reports.

Sky News has learnt that a sale process is unlikely to proceed after potential bidders, including the Chinese marketplace JD.com, refused to meet the £2bn asking price.

In June, it was reported that US private equity firm Carlyle had launched an auction for The Very Group, after buying it for only £1 in November 2025.

The decision to abort the auction will leave Carlyle as Very Group’s owner for the foreseeable future.

Sources said that running a sale process had been a condition of the change of control which saw the online retail group come under Carlyle’s ownership following a financial restructuring.

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Another American firm Elliott Advisors, which owns Waterstones, had also showed interest in taking on The Very Group.

Very’s interim results, for the 39 weeks ending 28 March 2026, were positive with retail revenue growing 0.1 per cent year-on-year to £1 billion. The etailer’s sports category saw 7.5 per cent growth.

However, its overall fashion segment dropped 4.5% in what it described as a “tough market”. Group retail sales, including revenue from its Littlewoods and Very Ireland brands, also fell 1.6 per cent to £1.2 billion.

Carlyle, ⁠and The Very Group, have yet to comment.

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Katie Searles

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Auction of Very Group halted as bidders fail to hit £2bn asking price

The Very Group

The sale of multi-brand online retailer Very Group is close to being scrapped, according to reports.

Sky News has learnt that a sale process is unlikely to proceed after potential bidders, including the Chinese marketplace JD.com, refused to meet the £2bn asking price.

In June, it was reported that US private equity firm Carlyle had launched an auction for The Very Group, after buying it for only £1 in November 2025.

The decision to abort the auction will leave Carlyle as Very Group’s owner for the foreseeable future.

Sources said that running a sale process had been a condition of the change of control which saw the online retail group come under Carlyle’s ownership following a financial restructuring.

Related Story

Another American firm Elliott Advisors, which owns Waterstones, had also showed interest in taking on The Very Group.

Very’s interim results, for the 39 weeks ending 28 March 2026, were positive with retail revenue growing 0.1 per cent year-on-year to £1 billion. The etailer’s sports category saw 7.5 per cent growth.

However, its overall fashion segment dropped 4.5% in what it described as a “tough market”. Group retail sales, including revenue from its Littlewoods and Very Ireland brands, also fell 1.6 per cent to £1.2 billion.

Carlyle, ⁠and The Very Group, have yet to comment.

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