A buyer is being sought for the Barnsley-based nightclub company Brook Leisure.
The company, which was founded 12 years ago by Martin Brook and business partner Gary Hunt, operates around 10 sites and has sales of £20.6m.
Brook Leisure has concentrated on opening nightclubs in northern cities it operates the Dr Livingstone's brand.
When the company opened in Huddersfield, Hunt, Brook Leisure's managing director, said: 'Huddersfield is a heavily discounted (area) and pricing is an issue. The management structure and facilities of a purpose-built nightclub are much more expensive than a Wetherspoon's. We therefore need to recover a better GP than them to recover costs.
Brook Leisure's owner has hired NM Rothschild to pursue a sale.