Ernst & Young has reported that it has sold 38 of the 49 former Orchid pubs that were placed into administration after the bulk of the business was acquired by Mitchells & Butlers (M&B) last June.
The administrator reported that 38 sites have been sold to nine separate buyers, realising a total of c£3.6m and saving 594 jobs.
It said that 10 more sites are at advanced stage of negotiation with landlords and third parties.
Buyers for the 38 sites were a mixture of trade purchasers, alternative use, landlords and sole traders.
Ernst & Young has so far incurred time costs of nearly £3m working on the administration.
