LONDON — The company behind online shopping brands Littlewoods and Very has reportedly tapped UBS to advise it on a sale or stock market listing, according to The Times.
Shop Direct, which used to be a catalogue retailer, is said to be exploring its options after four years of record revenues and profits. The retailer is owned by Sir David and Sir Frederick Barclay, who also own London’s Ritz hotel and the Daily Telegraph newspaper. The brothers have owned the business since 2003.
The Times reports that UBS is taking a major role advising Shop Direct on its options and says that Goldman Sachs may also be involved. All parties declined to comment to the paper.
Shop Direct had sales of £1.8 billion in 2016, according to its accounts, and made an underlying profit of £150.4 million. The Liverpool-based company’s brands sell clothing, electricals, and home furnishings and are advertised by celebrities such as TV presenter Fearne Cotton, who fronts Very.co.uk.
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