Bar and nightlcub operator Ultimate Leisure is to launch a new strategy to halt falling sales.

Plans include offloading four underperforming sites as well as the introduction of food at its Chase, Blubambu and Coyote Wild bars for the first time.

  The company will also open a new Blubambu in Derby in December and plans to open five more bars by 2007.

The board has also allocated £5m to refurbish its existing sites.

Reporting the company’s end of year figures, Mark Jones, chair, said some of the nightclubs in the company’s portfolio had become tired and suffered slumps in sales as customers stayed away.

“We expect profit for the current financial year to be lower than previously anticipated,“ he said.

“Many of our sites have been affected by the general downturn in consumer spending – a factor the new strategy will address.”

In August, five executives – including chair Allan Rankin – resigned following an alleged dispute over the new strategy.

Ultimate reported a 6 per cent decrease in pre-tax profits for the year ending 30 June.