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REVOLUTION BARS is reportedly plotting to close a quarter of its venues.
The plan could result in the closure of 20 bars and “hundreds” of redundancies, a source told Sky News.
The bar chain has yet to confirm the plans, but bosses have said that it is looking at “all the strategic options available” having faced “a period of external challenges.”
“These include a restructuring plan for certain parts of the group, a sale of all or part of the group and any other avenue to maximise returns for stakeholders,” a statement released today said.
In January, Revolution Bars announced the closure of six sites across the country, alongside two of its Revolucion de Cuba bars.
At the time, chief executive Rob Pitcher said the closure of the bars, which are often student-oriented, was because “younger customers are still feeling the disproportionate effect of the cost-of-living crisis.”
