Novus Leisure, the bar and nightclub operator, has appointed Rothschild to advise it on its strategic options for the next stage of its development. It is thought that Rothschild beat Hawkspoint and McQueen to be appointed to advise the group, which operates the Tiger Tiger and Balls Brothers brands, on its options, which could include a sale of the whole of or stake in the business that is valued at between £115-£135m. Last year, Novus held discussions over a sale to Duke Street Capital and, although talks broke down at the eleventh hour, it is thought that the backer of Wagamama has continued to show an interest in the group. Rothschild advised Lion Capital on the sale of Wagamama to Duke Street. Novus, which is led by Steve Richards, was taken private in a £113m management buyout in 2005. Barclays and Royal Bank of Scotland took control after a debt-for-equity swap in 2009. One scenario would be a Richards-led management buyout of the business. Total sales for the company grew by 12% to £106.7m in the financial year ended 26 June 2011 (2010: £94.9m) and are forecast to reach £140m by June 2012. Novus operates many of the UK’s highest taking premium bars, predominantly located in London’s West end and City, as well as the Tiger Tiger brand in several regional cities nationwide.