Loch Fyne, the Greene King-owned group, has started to close some of its sites.

The 31-strong group, which was placed on the market last month, recently closed its site in Reading, with a further closure in Guildford set to follow later this month.

Greene King appointed advisers at AG&G to oversee a sale of the 31-strong brand, which currently produces c£33m in annual turnover and c£3m of EBITDA. The Guildford and Reading sites are both part of the portfolio placed on the market.

It is thought that in light of the issues facing the wider casual dining market, Greene King is looking dispose of the chain and concentrate on its core pub and brewing business, which includes c3,100 pubs and hotels.

It is not the first time Greene King has explored a sale of the business it acquired in 2007 for £68m. Two years ago, it was understood that the Hungry Horse and Chef & Brewer operator was seeking offers for the then 38-strong chain. At the time, it was reported to be valued at £100m.