Nightclub operator Urbium is disposing of two loss-making venues in Birmingham.
It is getting rid of the 2,000-capacity Apt and Polaris clubs on Broad Street.
Underperformance at these venues, formerly a Tiger Tiger, led to a £2.8m impairment in the company's 2003 annual results.
Urbium is also disposing of the 350-capacity 52 Degrees North in the city's Arcadia Centre.
The leases of both clubs have been assigned to new tenants.
Chairman John Conlan said: "The disposal of these non-core and loss-making venues allows management to concentrate on the strategic development of its core businesses, the Tiger Tiger brand and its operations in the West End and City of London."
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