According to recent reports, up to 120 jobs are in jeopardy at the Merseyside headquarters of online retailer The Very Group. This news comes as discussions surrounding a potential takeover of the company persist. The Very Group, which is currently owned by the Barclay family, has revealed plans to transfer certain employees to outsourcing consultancy firm Webhelp. Under this proposal, Webhelp would be responsible for managing the company’s “large item customer aftercare” and handling subject access requests from third parties.

As consultations with affected staff have commenced, it has been communicated that some positions may become redundant by 2024. The Financial Times previously disclosed that Lloyds Banking Group, the company’s lender, is engaged in talks with the owners and US private equity firm Carlyle regarding a potential takeover. Additionally, concerns about declining profits have resulted in the withdrawal of credit insurance by suppliers of Very.

During the 39-week period leading up to April, pre-tax profits saw a significant decrease from £58.5 million to £11.7 million, while revenue remained steady at £1.6 billion.

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