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​Revolution Bars Group Faces Uncertain Future with Share Suspension

​Revolution Bars Group Faces Uncertain Future with Share Suspension

Posted by Emma on 2nd Apr 2024

Revolution Bars Group has temporarily suspended its shares on the AIM market due to a delay in publishing its semi-annual financial results. The company missed the 30 March deadline to file its financial report for the 26 weeks ending on 30 December, leading to a trading suspension of its shares at 7:30 AM on 2 April.

Revolution, Soho, W1 (2447294050) Ewan Munro from London, UK, CC BY-SA 2.0, via Wikimedia Commons

Operating 58 bars under the names Revolution and Revolución de Cuba, along with 22 Peach Pubs locations, the group recently revealed it is considering the sale or closure of several sites following disappointing sales figures. This decision was influenced by the cost of living crisis, which has notably impacted the disposable income of its younger clientele, resulting in the closure of eight bars in England during January.

To navigate these challenges, Revolution Bars Group thoroughly examines all strategic avenues to bolster the group's future. This includes potential closures of about 20 underperforming bars and engaging with stakeholders and investors for possible fundraising opportunities. Notably, discussions are underway with key figures in the hospitality sector, including Luke Johnson, known for his investment in Gail's and Tortilla, to explore financial support options.

Following their initial statement on 26 March 2024, Revolution has committed to keeping the market updated, promising further announcements as more information becomes available. The group remains focused on evaluating its strategic options to ensure a sustainable future.

We invite your insights and comments below on the unfolding situation with Revolution Bars Group.