Ownership of digital fashion/lifestyle retail giant Very Group is expected to transfer to one of its major lenders — US investment giant Carlyle Group . Current owner, the Barclay family, is preparing to cede control of the business this autumn, reports suggest.

Carlyle, which is the biggest lender to Very Group's parent company, could assume ownership of the retailer as soon as October under the terms of its financing arrangements, a Sky News report claimed.

Sources said Carlyle is expected to talk with fellow creditors including IMI (the Abu Dhabi-based vehicle which assumed part of Very Group's debts) in the weeks ahead.

It means Carlyle is likely to end up with a majority stake in Very Group once it exercises a 'step-in right’, which converts its debt into equity ownership, the

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