Administrators are seeking a buyer for historic Scottish pub chain Maclay Inns in a bid to save more than 500 jobs.
Maclay Inns, which operates a portfolio of 15 pubs including The Rule in St Andrews, Braes in Dundee and the East Port Bar in Dunfermline, called in administrators EY after the business was hit by an unspecified charge.
All of the outlets in the Maclay portfolio are continuing to trade while EY seeks a potential purchaser for the business.
Around 560 jobs are at risk while the administration process continues.
The group is one of Scotland’s longest-standing brewer and pub chains, having been founded by James Maclay in Alloa in 1830.
In 1870 the Thistle Brewery was established, and the site remained Maclay’s headquarters until early 2001 when brewing ceased and the company refocused on its portfolio of pubs.
In a statement the firm announced it had appointed Colin Dempster and Gavin Yuill of EY as joint administrators.
It added: “In recent months the directors have been seeking a strategic solution to the financial pressures facing the business.
“In light of a solution not emerging in the time available, the directors took this decision in order to protect the employment of its 500 staff and the business which remains profitable.
“EY will now trade the business, which comprises 15 pubs and bars across central Scotland, with a view to a sale,” the statement added.