Former chancellor Nadhim Zahawi has been appointed chair of online retailer Very Group, which owns Very and Littlewoods. The Conservative MP, who last week said he would stand down at the next election, will replace interim chair Aidan Barclay at the company which is part of the Barclay family’s business empire. The Barclays have owned Very Group since 2002, but the business recently swung to a half-year loss and was forced to secure £125 million in new debt funding from Carlyle Global Credit and IMI. The Very Group said in a statement that Mr Zahawi would work with the directors and management team to explore expanding the business in new areas. It also said he would work with shareholders on “the strategic options” for the business, possibly including fresh investment in the short to medium term. Mr Zahawi said: “As one of the UK’s largest digital retailers and flexible payments providers, the company has an important role to play in helping families get more out of life. “With a heritage of over 100 years, Very has an unrivalled knowledge and understanding of its customer, demonstrating resilience even in the face of challenging conditions.” Mr Zahawi, who co-founded the polling company...