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Market: AIM
Sector: General Retailers
EPIC: LBE
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Liberty PLC
www.liberty.co.uk

Liberty plc, in which MWB Group plc has a 68% interest, is the well known retailing and wholesaling business famous for its Great Marlborough Street store and luxury Liberty brand. Its wholesale division distributes Liberty fabric throughout the UK and the rest of the world.

 

Full Liberty PLC profile here
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Retailer Liberty PLC rises 7% after confirming approach for company

12th Mar 2010, 10:02 am Retailer Liberty PLC rises 7% after confirming approach for company

Liberty PLC (LSE:LBE) jumped 7% in early deals this morning after the London retailer confirmed that it had received several approaches “that may or may not lead to an offer” for the company MWB Group (LSE:MWB) owns 68% of the equity in Liberty.


Liberty’s primary business is the Liberty department store on Regent Street in London, which the company said had witnessed a 16% increase in revenues in 12 month period ended December 31 2009.  Overall, the group reported a 20% increase in revenues for 2009. “Trading has continued to benefit from the Renaissance of the Regent Street flagship store which drove footfall and market share over the remainder of the year and has continued during 2010 to date,” Liberty added.


The company has been undertaking a strategic review, which according to recent press speculation, includes the potential sale and leaseback of its flagship store.


Liberty noted the recent speculation in the press, stating that it would update investors “as appropriate”.


“At this stage, it is too early for the Board to determine whether or not these discussions will result in any formal offer being made for the Company,” Liberty cautioned.

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