Upmarket caterer and champagne bar operator Searcys, could be broken up with sites being sold separately as reports suggest interest from parties wanting to buy the business as whole was low.
With venues including a private members club in the gherkin and the running of numerous high profile catering contracts, Searcys was placed on the market last November at a price ranging from £25m to £30m.
Bidding closed in December and it is believed that interest in picking up the company as a whole was not as high as Searcys bosses had hoped.
Adviser BDO was brought on board at the end of last year to find a buyer for the company, which reported sales of £46m and underlying earnings of £2.4m.