The Revolution Bars Group has confirmed plans to close six venues across England because the cost-of-living crisis is still hurting its younger clientele.
The company announced the closure of Revolution Bar locations in Beaconsfield, Derby, Reading, St Peters, Liverpool and Wilmslow which were classified as unprofitable by the group.
Go deeper with GlobalData
Revolution Bars Group CEO Rob Pitcher stated: “Our younger customers are still feeling the disproportionate effect of the cost-of-living crisis. Therefore, we have taken the difficult decision to close several bars.
“Our teams do a terrific job in making guests welcome and giving them a great experience and again we have demonstrated that when our customer base can afford to do so, they are choosing to celebrate with us, and we have delivered record levels of satisfaction.”
The company will re-deploy staff from these locations.
“We are currently working through redeployment plans to help team members affected to be offered alternative employment elsewhere in Revolution Bars Group,” the company’s press statement read.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe group’s Playhouse in Newcastle-under-Lyme and Revolucion de Cuba locations in Southampton and Sheffield will also close, the Independent has reported.
Following the shutdown, Revolution will operate 58 bars and 22 pubs.
The decision to close sites was taken despite the company’s like-for-like sales increasing by 9% in December 2023.
“We have had the best festive trading period for four years with all of our brands recording positive like-for-like sales and Revolucion de Cuba being the standout performer,” Pitcher said.
However, like-for-like revenue dropped by 2.8% over the six months up to the end of December.
The company will provide a trading update for the first half of its financial year on 24 January 2024. This will offer further insights into its performance and strategies moving forward.
