While House of Fraser and Debenhams struggle to keep afloat, British heritage store Liberty London has defied department store doom and gloom. The retailer’s parent company BlueGem has sold its 40% stake in the business to private equity consortium Glendower Capital in a deal valuing the business at £300m.

The iconic retailer’s one-off 80,000 sq ft, six-floor, Tudor-style Great Marlborough Street store is the driving force behind its success.