Department Stores

Liberty London ‘could be sold for £300m’

The owner of Liberty London has reportedly brought the luxury department store to market for a potential £300m price tag.

According to Sky News, private equity firm BlueGem Capital Partners – the store’s largest shareholder – is said to be looking to offload its share in the department store and its sister companies. If the sale goes ahead, it will be the first time in 10 years that the company has changed ownership.

BlueGem purchased Liberty in 2010 for just over £40m before refinancing in 2014 and reducing its stake to 40%. It is not yet known if the company’s other shareholders also want to sell their stakes.

In its last financial update, Liberty London’s profits were £21m for the 53-week period ending 3 February, compared with the previous year’s figure of £19.9m.

Retail Sector has contacted BlueGem for comment.

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