JD.com is considering a £2 billion bid for British online retailer Very

JD.com is considering a bid for the British online retailer The Very Group. The Chinese e-commerce group is reportedly willing to pay around 2 billion British pounds for the retailer, which operates under the Very and Littlewoods brands.

For a year’s revenue

The Very Group, formerly known as Shop Direct, is preparing for a formal auction. Investor Carlyle purchased the British retail group earlier this year for a symbolic £1 out of bankruptcy. Because Carlyle has long been a creditor of the company, the investment group now wants to sell Very to the highest bidder.