Revolution Bars owner set for administration with 2,200 jobs at risk

"Revel Collective, which operates 62 pubs and bars under brands including Revolution Bars, Revolucion de Cuba and Peach Pubs, confirmed on Monday that it has filed to appoint administrators, with a formal appointment expected within the next 10 days. The company said discussions with a buyer are "well advanced", but warned that any sale would wipe out existing shareholders, and its AIM shares have been suspended."

"Revel Collective, chaired by former Pizza Express boss Luke Johnson, put itself up for sale in October after what it described as a prolonged period of "external challenges". In December, it said it had attracted a "significant number" of potential buyers and has since been linked with hospitality groups including Neos Hospitality. The company said it had chosen to enter administration to "protect creditors", including its banks, while a transaction is completed."

"When launching the sale process last autumn, Revel Collective blamed tough trading conditions and policy decisions announced by the chancellor, Rachel Reeves, in Labour's first Budget after taking office in 2024. Measures included higher employer national insurance contributions and an increase in the national minimum wage. The group also criticised the government's decision to raise duties on spirits, which it said would add more than £4 million a year to its cost base."

Revel Collective, operator of 62 pubs and bars including Revolution Bars, Revolucion de Cuba and Peach Pubs, has filed to appoint administrators with a formal appointment expected within ten days. The company said potential buyer discussions are well advanced, warning any sale would wipe out existing shareholders, and its AIM shares have been suspended. All venues will continue trading during administration. The group entered a sale process after prolonged external challenges and blamed tougher trading conditions and recent fiscal measures, including higher employer national insurance, a higher minimum wage, and increased spirits duties that add over £4m annually. A turnaround including 15 closures failed to stabilise the business.

Read at Business Matters