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The London-listed on-line well being and wonder group THG has struck a deal to promote Zavvi, as soon as one in every of Britain’s best-known leisure retailers.
Sky Information has learnt that THG has agreed the sale of its OnDemand division to its administration crew with financing from Gordon Brothers, the specialist retail advisory and funding agency.
Metropolis sources stated the deal can be introduced on Friday.
The newly unbiased firm will proceed to be a shopper of THG’s Ingenuity logistics arm, they added.
If confirmed, THG’s disposal of OnDemand would full the sale of non-core property introduced earlier this yr.
It additionally offered ProBikeKit to Frasers Group, the excessive road group managed by billionaire Mike Ashley.
The combination proceeds from the sale of the non-core property is alleged to have been a number of million kilos.
The OnDemand division additionally contains I Need One Of These, a gifting web site, and Pop in a Field, which sells fast-moving client items.
THG’s sale of the property comes after a pointy rebound in its shares this yr, regardless of the termination of talks a few takeover by Apollo International Administration.
Beneath Matt Moulding, its founder and chief govt, THG has advised traders it’s now targeted on reaching profitability and money technology.
A THG spokesman declined to remark.
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