Luxury department store Liberty is to undergo a review to identify ways the business can expand in the UK and abroad.The firm, which operates an iconic store off London's Regent Street, made the announcement after a report in the Sunday Telegraph said it will this week appoint M&A specialists Cavendish Corporate Finance and Global Leisure Partners to help it identify new investors or partners.In April, Liberty said it saw losses rise for the year but highlighted the 9% uplift in sales despite the tough conditions.