Online fashion website The Very Group has moved closer to a £4billion flotation after refinancing its debt.
The Liverpool-based retailer, which is fronted by actress Michelle Keegan, launched a £575million bond that will expire in 2026.
Ben Fletcher, chief financial officer at The Very Group, said: ‘We are very pleased to have launched this bond, which refinances and extends our existing debt.’
Float hope: The Very Group, which is fronted by actress Michelle Keegan (pictured), launched a £575m bond that will expire in 2026
The online retailer is owned by the billionaire Barclay family, whose interests include The Telegraph newspapers and Yodel.
Very has benefited from the boom in online shopping and it is understood advisers have been hired to look into a float.
The company’s most recent results to the year ending June 2020 show revenue up 2.9 per cent, to £2billion, with a profit of £48million, against a £185million loss the previous year.
Several online retailers, including The Hut Group, have gone public in the last 12 months and seen their valuations soar.
The Very Group is run by chief executive Henry Birch, the former Rank Group boss.
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