Revolution Bars is set to go into administration, putting the iconic bar chain at risk of disappearing from the high street.
The parent company Revel Collective, which owns 62 bars including Revolucion de Cuba and Peach Pubs, said on Monday it had filed to enter administration after putting itself up for sale in October.
Discussions with a buyer are ‘well advanced’, they added, but any deal will likely leave shareholders with nothing after the sale.
Revolution bars – known affectionately as Revs – as well as Revolucion de Cuba and Peach Pubs will stay open during the process.
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Revel Collective has blamed ‘challenging economic conditions’ for their financial difficulties, criticising Rachel Reeves budget decisions.
The chancellor used her first Labour budget to increase National Insurance contributions from employers and raise the minimum wage.
Revel Collective also criticised her duties on spirits, which they said would cost them an extra £4million a year.
The company launched a turnaround plan, which saw it shut 15 loss-making bars, but that was not enough to save its future.
In their statement, they owners said administrators will be appointed within 10 days.
In December, Revel Collective said it had found ‘a significant number’ of potential buyers.
The announcement came as new data revealed a surge of hospitality closures towards the end of 2025.
Consumer research firm NIQ showed that 384 hospitality firms shut up shop in the final three months of the year, equating to more than four each day.
This has left 98,914 hospitality sites still open in the UK at the end of the year.
Karl Chessell, director of hospitality operators and food at NIQ said ‘relentless increases in operating costs’ are hurting the sector.
The Chancellor is expected to unveil a £300million support package for pubs as soon as today as she’s been warned about the threat of mass closures to the industry.
Pubs are expected to receive around £100 million a year until 2029, but restaurants, cafes and hotels are expected to misss out on the financial help.
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