Revolution bars owner The Revel Collective has closed 21 venues with the loss of 591 jobs after appointing administrators, who have announced a sale securing other parts of the business.
FTI Consulting have been brought in as administrators for the pub and bar operator which said it has struggled against rising costs and weaker consumer spending, particularly among its younger clientele.
The venues closing, with immediate effect, incorporate 14 Revolution bars, six Revolucion de Cuba bars and one Peach Pub.
However, FTI confirmed a pair of deals which will secure the future of 41 sites and 1,582 jobs.
The Revolution and Revolucion de Cuba brands and assets have been bought by Neos Hospitality Group, which runs the Barbara’s Bier Haus and Bonnie Rogues brands.
Meanwhile, the remaining Peach Pubs business has been bought by newly-formed group Coral Pub Company.
The Revel Collective – chaired by former Pizza Express boss Luke Johnson – put itself up for sale in October as its cash crisis deepened and sales slumped.
It warned two months later that shareholders were likely to be wiped out as part of any deal.
The group undertook a major restructuring in 2024, in which it shut 15 unprofitable bars in a bid to turn around its performance.
But the revamp plans faltered and it launched a strategic review last autumn into funding and a sale of all or parts of the business.
Bosses at the firm have previously flagged that sales have been weaker than expected, as younger customers reined in their spending.
Revolution bars are known for their range of cocktails and flavoured vodka shots, and late-night party atmosphere.
But parts of the UK’s nightlife industry has struggled since the Covid pandemic, with many sites forced to close amid changing behaviours among consumers and an array of rising business costs.
Higher national insurance contributions, minimum wage increases and duty on spirits were also cited as having a detrimental impact on the group’s trading.
