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US private equity giant poised to take over online retailer The Very Group

about 17 hours ago
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The Barclay family is set to lose control of another part of their former business empire with a US private equity firm taking control of online retailer the Very Group.Washington-headquartered Carlyle Group is expected to announce it has taken over the retailer as soon as Monday morning.The change of control will bring to an end more than 20 years under the ownership of the Barclay family, which has been forced to give up a series of businesses – including the Telegraph newspaper, London’s Ritz hotel, and delivery company Yodel – that made them into billionaires, and one of the richest families in Britain.The Very Group’s board, chaired by former Conservative chancellor Nadhim Zahawi, met on Sunday to confirm the change of ownership, according to Sky News, which first reported the move.The Barclay family, led by identical twins David and Frederick, had owned Very since buying it in 2002 – when it was a catalogue retailer known as Littlewoods – for £750m.

That business merged with Shop Direct in 2004.David Barclay died in 2021.However, the Barclay family’s fortunes appear to have worsened in recent years.They lost control of the Telegraph newspapers after the family struggled to repay large loans.Carlyle first became a lender to the Very Group in 2021 with a loan of undisclosed size.

The investor followed that up in 2024 with about £85m out of a £125m debt package.Carlyle’s total financing to the business is thought to be more than £500m.Abu Dhabi-based investment fund International Media Investments (IMI), which also lent to Very, is expected to remain a lender.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionVery itself is not thought to be struggling financially.The retailer last month reported increased profitability, with £307m in earnings before interest, taxes, depreciation and amortisation in the year to 28 June.

It made sales of £2,1bn in the year,The Very Group and Carlyle both declined to comment,
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More than a third of whisky drinkers are female. Time for the industry to wake up to women

Why wait for International Women’s Day to celebrate women? A commemorative day is a good excuse, true, but we don’t need to wait to recognise the contributions of female and female-identifying individuals to the drinks industry. Right? Right.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

4 days ago
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Jimi Famurewa’s recipe for Marmite and leek homity pie

The first time I encountered homity pie was in a disused train carriage. It was Deptford market in the late 2000s: a reliably chaotic, noisy morass of jostling bodies, the wafted smell of sweating burger onions and a vast section where the “stalls” generally comprised gatherings of orphaned trainers, boxy VHS players and other random house-clearance items dumped on to lengths of tarpaulin. I was an eager but gastronomically green 25-year-old in my first proper flatshare and this ragtag locus of trade became an early site of core dining memories. I thoughtfully appraised very ordinary vegetables, channelling Rick Stein in Gascony; bought warm, hectically seeded granary loaves from the Percy Ingle bakery; ate average pub Thai, better kerbside rotisserie chicken; and generally tried, with limited success, to ignore the creeping sense that I had settled in a part of town that wanted for some structure or culinary vitality.It was this atmosphere of cultural nascence into which the Deptford Project trundled

4 days ago
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$1.50 mangoes: Australia’s best-value fruit and veg for November

Kensington Pride, Calypso and Honey Gold mangoes are the juiciest of the crop right now – but avoid potatoes until prices come back downGet our weekend culture and lifestyle emailHot weather in the Northern Territory has been favourable for summer’s golden child.“Everyone should be eating mangoes right now,” says Josh Flamminio, co-owner of Galluzzo Fruiterers in Sydney.The mango abundance will continue throughout the month and will only get better as supply from Queensland increases. Flamminio is selling larger premium mangoes for $2.50 to $3 each, and smaller-sized ones for $1

5 days ago
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How to turn the dregs of a tin of golden syrup into a delectable toffee sauce – recipe | Waste not

Lyle’s golden syrup comes in the most ornate and nostalgic of tins, but the syrup inside often proves almost impossible to extract entirely. Turn what might otherwise be wasted into this luxurious toffee sauce to savour on Bonfire Night, especially when drizzled generously over cinnamon baked apples with scoops of vanilla ice-cream.Apples transform beautifully when baked, turning this hyper-seasonal fruit into a super-simple yet decadent dessert. I prefer cox or braeburn varieties (ie, something not too large), so you can serve one apple per person.Gordon Ramsay’s recipes are my go-to for traditional techniques that deliver reliable results

5 days ago
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Mirepoix kimchi and vegetarian umami chilli: Kenji Morimoto’s recipes for cooking with homemade ferments

Cooking with ferments brings a tremendous amount of flavour to whatever you’re making, and it’s a great way to showcase how an ingredient evolves through the application of heat. The idea of combining a Korean preservation method with a French technique is exactly what I love about creativity in the kitchen. This mirepoix kimchi is not just a fun ferment to dot on savoury oatmeal or eat alongside cheese, but it also acts as the backbone for a plant-based, umami-filled chilli.This versatile, umami-rich paste is a twist on the classic mirepoix and can be used to add a hit of flavour to everything from soups to marinades, or even enjoyed as is.Prep 10 min Ferment 2 weeks+ Makes 500ml jar150g carrot 150g white onion 150g celery 13½g salt (or 3% of the total weight of the first three ingredients)½ tbsp red miso, or fish sauce½ tbsp sugar 15g gochugaru chilli flakesRoughly chop the vegetables (there is no need to peel the carrots if they have been rinsed), then put them in a food processor

5 days ago
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The many uses of leftover chutney, from breakfast to soups and glazes | Kitchen aide

Every Christmas I’m given chutney, and I still have four barely used jars. What to do with them before the next lot arrive? Christine, OxfordThis sounds like a job for Claire Dinhut, author of The Condiment Book, who also goes by the moniker Condiment Claire. She would approach this meal by meal, starting with breakfast. “It might not seem so obvious,” she says, “but I put Branston pickle on my avocado toast. If you think about it, you often add acidity, which is usually lemon, but chutney is punchy and has that same tang, as well as a bit of texture

6 days ago
cultureSee all
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Seth Meyers: ‘Trump has no idea what regular people are going through and he doesn’t care’

3 days ago
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Seth Meyers on Mamdani’s win: ‘The kind of energy Democrats have been desperately seeking for years’

4 days ago
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Garden shed of vaccine pioneer Edward Jenner added to heritage at risk register

4 days ago
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Miss Piggy movie on way from Jennifer Lawrence, Emma Stone and Cole Escola

5 days ago
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Colbert on Pelosi calling Trump a vile creature: ‘You know who agrees? Most Americans’

5 days ago
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De Niro to JLaw: should celebrities be expected to speak out against Trump?

6 days ago