"Immediately on appointment, the Administrators completed two sale transactions for the business and assets of the Group: (i) a sale of Revolution, Revolucion de Cuba and Founders & Co to Neos Holdco Limited and certain of its subsidiaries, trading as Neos Hospitality and (ii) a sale of Peach pubs to Coral Pub Company Acquisition Limited, founded by Ted Kennedy. The transactions secure the continuation of 20 Revolution, Revolucion de Cuba and Founders & Co bars and 21 Peach pubs"
"Neos Hospitality and (ii) a sale of Peach pubs to Coral Pub Company Acquisition Limited, founded by Ted Kennedy. The transactions secure the continuation of 20 Revolution, Revolucion de Cuba and Founders & Co bars and 21 Peach pubs and protect 1,582 jobs across the sites and central support function. Regrettably 14 Revolution, six Revolucion de Cuba and one Peach site did not form part of the transaction and those sites are being closed with immediate effect impacting 591 employees."
The Revel Collective filed a notice of intention to appoint administrators and appointed FTI Consulting. Administrators completed two sales immediately: Revolution, Revolucion de Cuba and Founders & Co were sold to Neos Holdco Limited and subsidiaries trading as Neos Hospitality; Peach pubs were sold to Coral Pub Company Acquisition Limited, founded by Ted Kennedy. The transactions secure continuation of 20 Revolution/Revolucion/Founders & Co bars and 21 Peach pubs, protecting 1,582 jobs across sites and central support. Fourteen Revolution, six Revolucion de Cuba and one Peach site were excluded from the sales and closed with immediate effect, impacting 591 employees.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]