BlueGem Capital Partners, the private equity owner of London department store Liberty, saw revenues and operating profit fall last year according to its 2013 annual accounts, while its two top earners collected €500,000 each.

Accounts for BlueGem Capital Partners LLP, filed recently at the UK's Companies House, show revenues at the group fell from £2.2 million in 2012 to £2 million last year, while operating profit fell from £624,670 in 2012 to £493,086 last year.