Herald Inns & Bars, the managed pub business jointly owned by Trevor Hemmings and Halifax Bank of Scotland, is to put its high street bar operation on the market, M&C Report has learnt. The package, which is thought to comprise 15 sites trading under the Brannigans and Mood late-night brands, generates annual revenues of about £20m. Annual underlying profits (ebitda) within the disposal portfolio, which Herald intends to sell to a single buyer, is not known. Christie & Co, the property agent, is believed to have been appointed to handle the sale. Mike Clayton, the former Jennings managing director who now runs Herald Inns & Bars, declined to comment on the story. The business was formed out of a number of businesses including Bakersfield Entertainment, Mustard and Valleyhill. Hemmings, the leisure entrepreneur, owns Blackpool Tower and also has significant stakes in Trust Inns , the tenanted pub group, and Scottish & Newcastle, the quoted brewer. The company lost £3.6m on sales of £28m in the year to 31 March 2005. The previous year the company made losses of £3.47m on sales of £20.6m.