The show will go on at Funny Girls after brewery company Daniel Thwaites said it will take over if no buyer is found for the showbar group.
The Blackburn firm revealed the option in its half year statement which gave an upbeat picture of its brewery business in the first part of the year.
It revealed that it retained its close links with Funny Girls after selling off its free trade business to Marstons in 2015.
And it had over a number of years, advanced loans to Funny Girls, secured over its freehold assets.
The statement says: “In September administrators were appointed to the business, which is now being marketed for sale.
“Since administration we have been operating the business under license, which may or may not become a longer term arrangement depending on the outcome of the sale process.
“While it is our preference that a new owner be found to take the business forward, equally we are ready do so under our own stewardship should that be required.
“We expect that the position will be clearer by the end of the financial year.”
Entrepreneur Basil Newby’s Funny Girls Ltd hit trouble in September after racking up debts in excess of £4m and is being administered by Paul Dumbell and Howard Smith of accountants KPMG in Manchester.
Thwaites is handling the day to day running of the cabaret bar Funny Girls, the Flying Handbag and Whippet Inn bars, plus Flamingos night club, with the existing staff having taken over the licences.
It was put up for sale through agents Sanderson Weatherall with a view to selling it earlier this month but no further details have yet been released.
Thwaites saw its turnover rise for the six months ended 30 September this year from £48m to £49.9m while operating profits rose from £7.7m to £8m.