REVOLUTION Bars is set to close some of its sites after announcing that the Covid curfew has affected its revenue.
Government restrictions and Covid curfews have cost the company around a third of its revenue and its subsidiary company, Revolution Bars Limited, is setting up a company voluntary arrangement (CVA) in order to cut costs.
The Covid curfew, meaning the closure of pubs, bars and restaurants in England at 10pm, according to the Revolution Bars Group, has meant sales have dropped to 49.4% that were previously at nearly 78% of last year’s level.
In a statement, Revolution Bars outlined that they were set to close sites: “Due to the imposition of the 10pm curfew and more recently localised lockdowns, with more severe operating restrictions now affecting many of the group’s reopened bars”.
Revolution Bars Limited will now have to close six of its 50 Revolution-branded bars in the UK and reduce rents at seven others as part of a proposed CVA that will be put to creditors on November 13.
The CVA will not affect the ordinary operations of the rest of the group, however, the group said around 130 jobs are at risk, out of a total of around 2,500 workers.
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