Carlyle has engaged Barclays and JP Morgan to oversee the sale process, Just Style understands.

The auction is expected to begin soon, after previous attempts to sell the UK online retailer were postponed during the Barclay family’s ownership, says Sky News citing sources familiar with the matter.

A spokesperson for The Very Group declined to comment officially.

The intention to proceed with an immediate sale was revealed in a Companies House filing from administrators at VGL Holdco, a corporate entity now separate from Very Group’s operations.

PricewaterhouseCoopers (PwC) was appointed as administrator for VGL Holdco in November 2025, allowing Carlyle, previously a major creditor, to take control of The Very Group for a nominal payment of £1.

Carlyle concluded its acquisition of Very Group in November last year, ending over two decades of ownership by the Barclay family.

IMI, an Abu Dhabi-based media group, remains a significant stakeholder in the business following the transaction.

In a statement at the time, the retailer described the transaction as “a positive outcome” and said it would “provide a strengthened capital base and enhanced financial flexibility to support investment in its long-term growth plans.”

Carlyle had previously provided significant capital injections into The Very Group, including support during the Covid-19 pandemic in 2021 and an additional £85m in 2024.

In October last year, the group announced its highest earnings margin on record for FY25 but noted that revenue from fashion and sports dipped 3.7% amid market discounting.

Annual revenue for the group stood at £2.087bn, a 1.8% decrease year-on-year from £2.125bn in FY24, which it reported “reflects a focus on profitability over volume in a challenging market.”

The company reportedly serves around 4.4 million customers annually.