Bar and nightclub operator Luminar has hinted that it might sell its entertainment division which owns the Chicago Rock Cafe and Jumpin’ Jaks chains, if the right offer was made.

Luminar’s entertainment division was up for sale earlier this year but was taken off the market in July after failing to secure a buyer.

According to reports, chief executive Stephen Thomas said “several interested parties” remained in the running for the possible entertainment division sale in a deal rumoured to be worth £100m, but he refused to comment that the division could be sold to private equity firm Alchemy Partners.

Speaking to The Times about the division – which comprises 22 Jumpin’ Jaks and 58 Chicago Rock Cafe properties –Thomas said: “If somebody came along and offered me a good price, then of course I would consider it. But we have a price we want to achieve and if we don’t get it, we won’t sell.”

Luminar’s interim results for the six months to 1 September showed that the entertainment division’s like-for-like sales dropped 6 per cent while division revenues fell from £53.3m to £52.4m.

Group turnover dropped £4.4m over the half-year period to £154.4m while pre-tax profit rose from £13.6m to £23.4m, buoyed by the £17m disposal of Luminar’s headquarters.

In May, Luminar announced pre-tax losses of £14m for the year ending February 2005 – £3m greater than the year before.

Trading for October was also reported to be below previous trends. The outcome of the 24 November licensing law changes were also “unpredictable” according to the group.

“Despite a difficult trading environment which has continued into the second half, Luminar has made significant progress in its transformation,” said Thomas. “Our branded units are performing well and we are cautiously optimistic about the balance of the financial year.” Details: www.luminar.co.uk