UK-based luxury brand Liberty PLC on Friday said that it has been approached for takeover by interested parties. However, it's too early for the company's board to say anything about whether the approaches would transform into formal bids or not, Liberty added.

The company had hired a group of advisors before eight months for a strategic review of its businesses.

For the past six months the 135-year old departmental store was in hunt for opportunities including investors with expertise, funds to help it grow in the path of success both in the UK and abroad. Currently the MWB Group Holdings PLC owns 68 per cent stake in Liberty.

Earlier this month the company showed its interest to lease its flagship Tudor building on Great Marlborough Street. The money received from leasing of the 125,000 sq. ft. magnificent building made by Arthur Liberty in 1875 using timbers of two signed off Royal Navy ships, HMS Impregnable and HMS Hindustan, would be used to fund the company's growth plans.

Liberty expects to raise nearly £40 million pound from leasing the freehold property.