Property agent Christie & Co has been appointed to sell the assets of Dark Star, the leisure management business part-owned by the entrepreneur behind the collapsed McKever Group of hotels, which went into administration earlier this summer.
Dark Star's administration was owned by Glasgow-based businessman Ally McKever, who lost £30 million through the collapse of his hotels business.
McKever had a 51% stake in Dark Star, while brewer Scottish & Newcastle was reported to have a 9% stake. The rest of the business was split between operations director Euan Bain and shareholder Billy McLaughlin.
McKever told the Scotsman that he had invested "a significant amount" of his own money into the Dark Star business in a bid to keep it afloat.
He claimed that his banks - HBOS and Anglo Irish - had put pressure on him to put the company into administration.
Joint administrator Kenny Craig, of Tenon Recovery, said: "Dark Star has a portfolio of high quality bars, restaurants and hotels in good locations that are well-known in their local communities.
"While not immune from the recent economic downturn, the units were performing relatively well and we are confident the business will appeal to companies operating in the licensed trade, or to entrepreneurs keen to enter the sector.
"It is therefore very much business as usual while we focus on finding a buyer or buyers as soon as possible."
Dark Star operates 14 leased premises with the majority located in the west of Scotland, including the Bar Budda chain. The business also includes four hotels in Aberdeen, Ayr and Dunfermline.