Liberty has been looking to drive growth for some time and may sell the business and have it leased back to the store, which would continue to operate as normal.

The property agency responsible for overseeing the sale is Knight Frank, who have put a value of £40m on the iconic department store. There are a number of interested parties and it’s hoped that an agreeable offer will be made shortly.

The store recently underwent a major refurbishment and sales to December 2009 leapt 16 per cent.

See also:
Liberty Creative Director Resigns
Liberty Sales Boost
Lewis’s Relocation Plans
Debenhams Trials Plus Size Mannequins
House of Fraser Expansion Plans

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