Major bar chain plunges closes 21 high street venues – full list | UK | News
The Revel Collective, which owns Revolution bars, closed 21 venues after going into administration, losing 591 jobs. FTI Consulting has been appointed as administrator at the pub and bar operator, which says it is struggling with rising costs and weak consumer spending, particularly among its younger customers.
Venues closing with immediate effect include 14 Revolution bars, six Revolucion de Cuba bars and a Peach Pub. But FTI confirmed a pair of deals that will secure the future of 41 sites and 1,582 jobs. The Revolution and Revolucion de Cuba brands and assets have been acquired by Neos Hospitality Group, which operates the Barbara’s Bier Haus and Bonnie Rogues brands. Meanwhile, the remaining Peach Pubs business was acquired by the newly formed group called Coral Pub Company. Revel Collective, chaired by former Pizza Express boss Luke Johnson, put itself up for sale in October as the cash crisis deepened and sales plummeted. Two months later he warned that shareholders would likely be eliminated as part of any deal.
The group has embarked on a major restructuring to improve its performance, closing 15 unprofitable bars in 2024.
But its renovation plans faltered and last autumn it launched a strategic review into the financing and sale of all or part of the business.
The firm’s bosses have previously said sales were weaker than expected as younger customers reined in their spending.
Revolution bars are known for their diverse cocktails, flavored vodka shots, and party atmosphere that lasts until the night.
But parts of the nightlife industry in the UK have struggled since the Covid outbreak, with many sites forced to close due to changing behavior among consumers and a range of rising operating costs.
It was stated that higher national insurance premiums, minimum wage increases and customs duties on alcoholic beverages also had a negative impact on the group’s trade.
Glasgow (Renfield Street)
Manchester (Vicarage Gardens)
The closures take effect immediately and hundreds of workers are now at risk of being laid off.
