VERY EDGES CLOSER TO £4BN FLOAT

THE long-awaited £4bn float of Liverpool-based online retailer The Very Group is on track.

The firm behind Very.co.uk and Littlewoods has reportedly offered incentives to senior managers ahead of a listing in the middle of 2023.

Very, owned by the Barclay family, was created in 2003 after Littlewoods and Great Universal Stores merged.

The group, fronted by actress Michelle Keegan (pictured), sells clothing, footwear, electronics, furniture and gifts.

Revenues in the year to the end of June jumped 13pc to £2.3bn. Very booked an £81.7m pre-tax profit.

A float was mooted last summer. A report in The Sunday Times said Very’s executives have been asked to stay on ‘for several years’ to see it through.

There are fears it will struggle to achieve a touted £4bn valuation amid the crash in tech stocks.