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Revolution Bars could close bars due to Covid restrictions

by LLB Finance Reporter
25th Sep 20 3:57 pm

Revolution Bars has announced that they could be closing sites as part of a radical restructuring to prevent a collapse from the new heavy coronavirus restrictions.

Investors were told on Friday that they are exploring restructuring options after challenging conditions have been “exacerbated” by the latest 10pm curfew.

In a statement to the London Stock Exchange, the company said, “Further to the continuing challenging trading environment and exacerbated by the further Covid-19 related restrictions announced by the Government earlier this week, the board of Revolution confirms that it has been working with advisers to assess various strategic options for the group.

“Revolution has a strong balance sheet following the £15m equity fundraising and the extension of its banking facilities announced in June but the board believes that the long-term nature and potential impact of the latest operating restrictions means that it must consider all necessary options to ensure that its business remains viable.”

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