Online & Digital

Barclay Family to revive Very Group IPO plans

It is thought that the business is aiming to float by the middle of 2023

The owners of the Very Group, the Barclay family, are reportedly set to revive plans to float the company next year after initially postponing the idea due to unfavourable market conditions.

According to The Sunday Times, the Barclay Family, which values the company at around £4bn, has offered incentive packages to senior leadership in return for leading it through a successful IPO.

It is thought that the business is aiming to float by the middle of 2023.

However, the outlet also reported that with the current economic outlook – rising costs coupled with low consumer confidence – means that there are doubts about whether it will be able to maintain its current valuation.

Last year, Very Group revealed it saw sales surge 24.9% for the 52-week period ending 30 June 2021, driving revenues up 18.2% to £1.87bn. Very customers also increased 12.4% to 3.82 million, “boosting” group customers by 7.6% to 4.82 million.

The retailer also reported profits before tax of £81.7m, up 68.8% on the previous year.

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