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Revolution Bars ‘plot MASS closures with hundreds of jobs at risk as it holds secret talks about sale’
It comes after company had the 'best Christmas period in years'
A POPULAR bar chain is understood to be plotting mass closures - putting hundreds of jobs at risk.
Revolution Bars Group is reportedly in talks about shutting the doors on around 20 of its worst-performing pubs.
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An investor revealed they had recently heard of the plans, reported.
There is said to be a proposal to axe around about a quarter of its venues to keep afloat.
It is unknown how many people could face job cuts, but one insider said it could reach into the hundreds.
The chain is also said to be trying to sound out investors, in the hopes of raising around £10m.
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Revolution Bars revealed in January it would have to close eight of its boozers, and blamed younger customers spending less than they used to.
But, in the same months, it said it had had its best Christmas trading period for four years.
Rob Pitcher, Revolution Bars' chief executive, said: "Revolution's younger guests are still feeling the disproportionate effect of the cost-of-living crisis.
"Looking forward, both business rates and national living wage will increase materially in April 2024 and therefore we have had to take the view that, with inflation remaining high, the recovery for the
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"Revolution business, our largest brand, will take longer than we had previously forecast."
The Sun has approached Revolution Bars for contact on the matter.
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In January we reported the chain had issued an update on its future after revealing plans to close eight sites and slashing opening hours.
The chain has said that it will "significantly reduce expenditure" and put back all refurbishments despite its "best festive period since 2019".
The firm's boss, Mr Pitcher, warned in the latest trading update that the night-time economy remains at risk due to the cost of living crisis and lack of disposable income among young people.
Mr Pitcher also warned that the rise in the national living wage and the doubling of business rates have added to these pressures.
He told that he could not guarantee that more Revolution bars wouldn't close and said that the priority was moving Revolution gradually up the age scale.
The operator of Revolution, Revolucion de Cuba and Peach Pubs brands has predicted lower earnings into the second half of the financial year, with estimates between £3million and £3.5million.
Prior to that was the the chain revealed it had decided to close eight sites across England as it warned that its younger customers are still feeling a "disproportionate" strain from rapid increases in the cost of living.
The company said that Revolution Bar sites in Derby, Reading, St Peters Liverpool and Wilmslow would close and that it was working to try to redeploy staff from these sites.
Revolution's younger guests are still feeling the disproportionate effect of the cost-of-living crisis.
Rob Pitcher
It also planned to close two Revolucion de Cuba sites in Sheffield and Southampton and the Playhouse in Newcastle-Under-Lyme.
After the closures, Revolution will operate 22 pubs and 58 bars.
It came despite the company reporting its best Christmas trading period since 2019, before the Covid-19 pandemic hit, forcing bars nationwide to close.
The chain, formally known as Vodka Revs, opened its first bar in Manchester in 1996 and now has 90 venues UK-wide.
Revolution had to close six bars back in 2020 as it struggled to keep afloat due to coronavirus restrictions.
The bar chain closed venues in London, Bath, Birmingham, Clapham, Solihull and Sunderland.
Due to soaring energy bills, the chain was forced to close its venues on Mondays and Tuesdays in January 2023.
In other news, pub chain Wetherspoons is closing one of its branches this month.
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The Percy Shaw in Halifax will pull its last pint on January 7 after the venue was sold to a new owner.
The venue will then reopen under new ownership eight days later.
What's Revolution Bars Group said?
Rob Pitcher, chief executive of Revolution Bars Group, said in Janurary: "The 2023 festive trading period is our best for four years.
"I have been delighted with the strong growth in Peach, Revolución de Cuba and Founders over the festive period.
"Revolution's younger guests are, however, still feeling the disproportionate effect of the cost-of-living crisis.
"Looking forward, both business rates and national living wage will increase materially in April 2024, and therefore, we have had to take the view that, with inflation remaining high, the recovery for the Revolution business, our largest brand, will take longer than we had previously forecast."
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