Revolution bar group rescued but nearly 600 jobs lost as 21 sites close

"Nearly 600 hospitality jobs have been lost following the rescue of the Revel Collective, after administrators confirmed the closure of 21 bars across the UK. Around 590 roles have been cut after the group, which trades under the Revolution Bars and Revolución de Cuba brands, fell into administration, with the remainder of the business sold off in a break-up deal. Administrators FTI Consulting said the closures were unavoidable given sustained pressure on trading."

"They cited higher employers' national insurance contributions, increases to the national minimum wage and rising duties on spirits as having a "detrimental" impact on the group's financial performance. The collapse and partial rescue of Revel Collective came just as the chancellor unveiled a long-awaited support package for pubs, following warnings of widespread closures and job losses driven by rising business rates."

Revel Collective entered administration, resulting in the closure of 21 bars across the UK and around 590 job losses, with the remainder of the business sold in a break-up deal. Administrators cited sustained trading pressure and cited higher employers' national insurance contributions, national minimum wage increases and rising duties on spirits as detrimental to financial performance. The chancellor introduced a support package offering a 15% business rates discount for pubs and music venues in England and a two-year protection from increases, while restaurants and hotels were excluded. Industry leaders warned many businesses still face severe viability and jobs pressures, and Revel Collective had warned of more than £4m in added annual costs.

Read at Business Matters