Revolution Bars Faces Administration, Threatening 2,200 Jobs
The hospitality sector faces a significant setback as Revel Collective, the owner of popular establishments like Revolucion de Cuba and Peach Pubs, prepares to enter administration. This decision jeopardizes approximately 2,200 jobs across the UK.
Details on Revel Collective’s Situation
Revel Collective operates a total of 62 pubs and bars, including the well-known Revolution bar chain, affectionately referred to as “Revs.” In October, the company announced its intention to sell amid ongoing external challenges.
Administration and Market Impact
Despite ongoing discussions with potential buyers, Revel Collective filed for administration this week. Shareholders are expected to receive no return following the sale, indicating significant financial distress.
Public Accessibility During the Process
Currently, Revel Collective’s bars and pubs will continue operations throughout the administration process. However, trading of the company shares has been suspended on London’s junior AIM stock exchange.
Key Information At a Glance
- Company Name: Revel Collective
- Brands: Revolucion de Cuba, Peach Pubs, Revolution Bars
- Number of Locations: 62 pubs and bars
- Jobs at Risk: Approximately 2,200
- Stock Exchange Status: Suspended from trading on AIM
- Sale Announcement: October
- Current Status: Filed for administration
This situation has raised concerns within the hospitality industry as it highlights ongoing challenges that many businesses face in a fluctuating market. The eventual outcome of Revel Collective’s administration process remains to be seen.
