Embattled Perth pub owner Compass Hotel Group has collapsed under more than $100 million in debt.

The listed company, which operates a portfolio of 12 licensed premises in WA including the Albion Hotel, the Carine Glades Tavern, the Greenwood Hotel and the Herdsman Lake Tavern, will continue to operate in the short term.

Receiver Taylor Woodings said the company's premises remained high quality assets and would continue to operate despite its appointment.

"The group's employees, including staff working at the hotels and bottle shops will not be impacted by the appointment of receivers," the company said.

Quentin Olde, of Taylor Woodings, said receivers would assess the group's financial position, its assets and investigate opportunities for their sale.

"We will maintain communication with key stakeholders, including employees, throughout this process and provide more detail to these stakeholders as it becomes available," he said.

Compass had been in breach of its loan covenants with St George since June 2008 after buying a slew of Perth pubs at the height of the market.

Late last year, Compass said difficult trading conditions were making it difficult for it to service its debt.

Last month, the company posted a $3.4 million first-half loss and wrote down the value of its portfolio by a further $5.1 million.

The group has blamed a host of factors for its woes, from the global financial crisis to aggressive competition from cut-price liquor chains.

More recently it pointed to a migration of patrons to "newer and more modern establishments", adding that its pubs were in need of "extensive refurbishments" for which it couldn't afford to pay.

Other Compass pubs include the Belmont Tavern, Brighton Hotel, Gosnells Hotel, Kalamunda Hotel, Lakers Tavern, Peel Alehouse, Peninsula Tavern and Princess Road Tavern.

Compass shares, which have been suspended, last changed hands for 1.5 cents, giving it a market capitalisation of about $2 million.