Online retailer Very Group’s planned auction is nearing collapse after potential bidders do not meet the company’s £2bn asking price. Reports say bidders, including JD.com, decline to match the level being sought, leaving the sale process without a clear path forward.
The outlets describe a process that is effectively paused or close to being discontinued. Sky News and Retail Gazette both report that the refusal to hit £2bn makes it unlikely the transaction proceeds under the current terms. The reporting also frames the situation as a near-term decision point for sellers, with the auction failing to generate acceptable bids.
While both sources agree on the core fact that the £2bn threshold is not being met, they differ slightly in emphasis: one focuses on the auction being “scrapped,” while the other describes the auction being “halted” and cites the broader context of earlier interest in the deal, including references to major financial backers.
