Barclay brothers said to be pursuing a sale or listing for Shop Direct

London - Sir David Rowat Barclay and Sir Frederick Hugh Barclay, the Barclay brothers who own the retail company Shop Direct Group, as well as the Daily Telegraph, are said to be looking to offload a significant stake in the 2 billion pound retail business following its record festive trading season.

The Barclay brothers are said to be in the middle of finalising plans with advisers for a partial sale of Shop Direct either through a sake or a stock market listing, according to Sky News. The move comes not long after Shop Direct reported its fifth consecutive record-breaking Christmas sales, which increased 9 percent year on year.

Sources revealed to Sky News that Sir David and Sir Frederick Barclay, who also own the Ritz Hotel in London, were in the middle of considering a number of options but "almost certain" that they would pursue a Shop Direct transaction. One of the option could see an initial public offering of Very.co.uk, although a complete sale is less likely to occur, added sources.

The brothers are also said to be working with a number of investment banks on the plans, including Goldman Sachs and UBS. A spokesman for the Barclay brothers declined to comments on the report. The Shop Direct Group owns the digital retail brand Very.co.uk, as well as its exclusive counter part and Littlewoods.co.uk.