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Liberty plans scrapped . . .

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A £43 million design for the famous Liberty shop has been scrapped. The scheme by SMC Landmark Architects, which sparked a boardroom row last autumn, included restaurant, offices and retail in the Tudoresque-fronted London store. Philip Bowman, Liberty chairman, said last year that shareholders had doubts on a scheme worth more than half the shop's £80 million market capitalisation.

Writing off professional fees will cost £10 million, it is thought.

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