Liverpool-based online retailer The Very Group’s long-awaited £4billion float is on track
In fashion: Very, run by actress Michelle Keegan (pictured), sells clothes, shoes, electronics, furniture and gifts
Liverpool-based online retailer The Very Group’s long-awaited £4billion float is on track.
The firm behind Very.co.uk and Littlewoods is said to have offered senior executive incentives ahead of a mid-2023 listing.
Very, owned by the Barclay family, was created in 2003 after the merger of Littlewoods and Great Universal Stores.
The group, led by actress Michelle Keegan, sells clothing, shoes, electronics, furniture and gifts. Revenue for the year to the end of June jumped 13% to £2.3bn.
Very reserved a pre-tax profit of £81.7million. A float was proposed last summer.
A Sunday Times report said Very’s executives had been asked to stay “for several years” to see it through.
It is feared it will struggle to reach a reported valuation of £4bn amid the crash in tech stocks.