News
The crew, which operates 58 bars and 22 pubs beneath the Revolution, Revolución de Cuba, and Peach Pubs brands, turned into required to publish its interim results for the 26 weeks ending 30 December 2023 by Saturday (30 March) as per AIM solutions.
Nonetheless, in an replace published this morning (2 April), it acknowledged that it had been ‘unable’ to carry out so and in consequence trading in the firm’s ordinary shares on AIM had been suspended.
The firm added that suspension from trading will most likely be lifted with the publication of the interim results in due course.
It comes after Revolution Bars Neighborhood honest currently confirmed it is ‘actively exploring all strategic choices available’ following a document by Sky News claimed the crew turned into planning to shut a quarter of its worst performing venues and keep itself up on the market.
In a assertion final week, the crew acknowledged choices included a sale of all or phase of the crew and any diverse avenue to maximise returns for stakeholders and increase its future potentialities. It additionally acknowledged it turned into engaging with key shareholders and diverse investors, including Luke Johnson, in recognize of a fundraising.
It follows the closure of eight sites in January, which the crew attributed to challenging macroeconomic trading atmosphere impacting the sector, compounded by the deliberate increase in the nationwide living wage in April, as being behind the closures
In its most modern replace, Revolution Bars added that it ‘continues to overview your total choices available to it, including engaging with key stakeholders and doable investors with recognize to a fundraising’.