Lady in Leisure has confirmed it is in advanced negotiations with several parties over the sale of its portfolio of 22 clubs. In the half year to January 31, operating losses more than halved to £258,000. However sales rose from £2.8m to £3m. At pre-tax level, losses fell from £631,000 to £370,000 and losses per share eased to 3.3p, against an 8.2p loss last time. Chair, John Pither, said: While the operating improvements bode well for the future, they are set against a backdrop of further reduced liquidity and pressure on our working capital position. The company says more announcements as to the sale will follow as appropriate.