Four pubs in the area are continuing to trade despite the management company that ran them going into administration.
The Admiral Hornblower and Calico in Oakham were run by Corby-based HK Taverns until the firm called in administrators from Baker Tilly Restructuring and Recovery LLP.
The Old Plough in Braunston and The Wishing Well in Dyke were also managed by the company along with 50 pubs in the East Midlands.
The three Rutland pubs are among a handful of those businesses which are expected to stay open, along with The Wishing Well.
Baker Tilly spokesman Graham Bushby said: “Sales at HK Taverns have been affected by continued pressure on consumer income. In response to creditor pressure, the company management concluded the only option was to appoint administrators.
“We have worked closely with the pub company landlords to facilitate an orderly handover of the leasehold portfolio, in many cases saving jobs and preserving value for all parties.
“We anticipate continuing to trade at five sites, which will secure around 40 jobs, until a buyer for the individual pubs or the group can be found.”
The Admiral Hornblower and The Wishing Well are among the five pubs the administrators will continue to run.
The others are in Rothwell, Grantham and Boston.
Calico is currently operating under the management of Punch Taverns with Martin Kelly, a former director of HK Taverns, as licensee.
And The Old Plough in Braunston is being run by The Grainstore Brewery.
Peter Atkinson, of The Grainstore, said: “We own the head lease on The Old Plough but five years ago the pub was sub-let to Kelly Taverns.
“When that went into administration a year ago, HK Taverns was supposed to sign the lease but never did.
“We have taken the lease back and will run the pub with all the existing staff. Our intention is to make a decision on its future within the next six months.”
Manager at The Wishing Well Stacey Smith said she hoped the pub would attract new customers.
She added: “The villagers are excellent and really do support the pub. But it’s always nice to see a few new faces.”