Revolution Bars which has 79 bars across the UK, has halted expansion due reclining sales, the firm has also given a profit warning.
The company said annual underlying earning will be between £11m and £12m, the consensus was £12m.
Like-for-like sales in the 26 weeks to 29 December 2018 were down by 4%, as result of a slower first half.
Rob Pitcher, chief executive said, “Revolution has been reviewed, the issues identified, and workstreams are being implemented to restore it to growth.
“Our confidence in achieving this is underpinned by the good performance of the new Revolution venues, while the recently refurbished sites are also seeing uplifts.
“We have therefore decided to prioritise the refurbishment programme over new openings.”