In style: Very.co.uk is led by actress Michelle Keegan
The Barclay brothers have been told to “lower their expectations” as they continue to search for a buyer for Very Group.
The struggling retailer raised the for sale sign earlier this year in a bid to address its mounting debts.
Brothers Aidan and Howard, who run the Barclays business empire, have agreed to divest themselves of all or a stake in the company.
The company, which owns Very.co.uk and Littlewoods.com and is run by actress Michelle Keegan, sells clothing, footwear, electronics, furniture and gifts.
The group was previously valued at £4bn.
But retail analyst Jonathan De Mello said owners “need to lower their expectations if they want to attract a private equity buyer.”
He added that it has “generated little interest.” Frasers Group has been considered a potential buyer, as well as retail giants Zalando and Next.
