Very value too excessive, Barclay brothers instructed

Stylish: Very.co.uk is fronted by actress Michelle Keegan

The Barclay brothers have been told to ‘lower their expectations’ as they continue to hunt for a buyer for Very Group.

The struggling retailer hoisted the for sale sign earlier this year in a bid to tackle its mounting debts.

Brothers Aidan and Howard, who manage the Barclays’ business empire, have agreed to offload the whole firm or a stake in it.

The company, which owns Very.co.uk and Littlewoods.com and is fronted by actress Michelle Keegan, sells clothes, footwear, electronics, furniture and gifts. 

The group was previously valued at £4billion.

But retail analyst Jonathan De Mello said owners ‘need to lower their expectations if they want to attract a private equity buyer’. 

He added it has ‘generated little interest’. Frasers Group has been dubbed as a possible buyer, as well as retail giants Zalando and Next.