Barclay family set to lose another part of former business empire, once known as Littlewoods, to Carlyle Group
The Barclay family is set to lose control of another part of their former business empire with a US private equity firm taking control of online retailer the Very Group.
Washington-headquartered Carlyle Group is expected to announce it has taken over the retailer as soon as Monday morning.
The change of control will bring to an end more than 20 years under the ownership of the Barclay family, which has been forced to give up a series of businesses – including the Telegraph newspaper, London’s Ritz hotel, and delivery company Yodel – that made them into billionaires, and one of the richest families in Britain.
The Very Group’s board, chaired by former Conservative chancellor Nadhim Zahawi, met on Sunday to confirm the change of ownership, according to Sky News, which first reported the move.
