The Barclay brothers David and Frederick Barclay, are pumping half a billion pounds into their ailing empire during a two-year cash-crunch at business that span the Telegraph newspaper and online retailer Shop Direct.
The billionaire twins, who have turned 85 ye
sterday, have spent £325m supporting operations in the past 18 months face a new call at Shop Direct that would take the total to £500m. They have started a process to sell The Ritz Hotel and are considering selling The Telegraph Media group.
In the past potential buyers have been put off by the brothers seeking to recoup the £665m they paid for the Telegraph Group in 2004.
LW Corporation, another of the brothers’ Jersey-based companies, injected £115m of capital into Yodel, in the year ending June 2018, while also increasing the size of a shareholder loan by £10m.
The Ritz bought by brothers for £75m in 1995, put a value at more than £800m.