The owner of Revolution bars has announced the closure of 21 venues, axing 591 jobs after the parent company went into administration.
Revel Collective owns the 62 bars in the UK, employing 2,200 people across the country in their chains Revolution Bars, Revolucion de Cuba and Peach Pubs.
Administrators have said they will shut 14 Revolution Bars venues, six Revolucion de Cuba sites and one pub under its Peach Pubs division ‘with immediate effect’.
It came as administrators from FTI Consulting confirmed a pair of deals which will secure the future of 41 sites and 1,582 jobs which were previously at risk.
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 a newly-formed group, Coral Pub Company.
The company had put itself up for sale last October after facing what it called ‘a continued period of external challenges’ and blamed Labour’s ‘regressive’ budget for its difficulties.
Pubs are facing massive increases in business rates this April as pandemic relief measures have ended, a new revaluation of properties is projected to put up rateable values and there are new changes to how business rates are calculated.
Revel Collective has been suspended from trading on London’s junior AIM stock exchange.
The company blamed ‘challenging economic conditions’ and criticised Rachel Reeves’ first Labour budget in 2024 when it was put up for sale last autumn.
This had increased National Insurance contributions from employers and raised the minimum wage.
They also criticised a hike in duties on spirits which they said will cost the company an extra £4million a year.
The firm had previously tried to turn itself around by shutting 15 loss-making bars but this was not enough to revive itself.
A statement from the company confirmed stakeholders would be wiped out on their investments and that it was entering administration to ‘protect creditors’ like banks.
The business’s shares remain suspended on the AIM exchange and are expected to be cancelled on February 27 – one month after the appointment of administrators – unless a replacement Nominated Adviser is appointed. There is ‘no current intention’ to do this, however, the firm said.
Despite this, the company said it had found ‘a significant number’ of buyers in December, including bar and club owner Neos Hospitality which has now come through.
Hospitality firm closures soared at the end of 2025, with 382 companies closing down in the last three months of the year – more than four each day, according to consumer research firm NIQ.
There were 98,914 hospitality sites left in the UK as the year ended.
Karl Chessell, director of hospitality operators and food at NIQ said ‘relentless increases in operating costs’ are punishing the industry.
The government is now expected to water down the planned changes for business rates on pubs which otherwise could have seen mass closures, industry groups warned.
