The company operating Revolution bars has announced a deadline for bids next week as it seeks a buyer. The Revel Collective, which runs 62 venues under various brands, including Revolution and Revolucion de Cuba, initiated the sale process in October 2025 due to declining sales. Potential bidders must submit offers by January 9, with FTI Consulting overseeing the sale proceedings.
Neos Hospitality has shown interest in acquiring some of The Revel Collective’s sites, although it is uncertain if they will submit a bid. The company, formerly known as Revolution Bars, underwent a rebranding in 2024. In the past, a proposed offer from Nightcap was rejected, leading to a restructuring plan that involved closing approximately 36 sites approved by the High Court.
Challenges stemming from economic conditions and government interventions have hindered the company’s recovery efforts post-restructuring, impacting revenue and profitability. Cost-cutting measures have not fully offset the negative effects of budget changes, resulting in a 7.4% revenue decline to £26.3 million. The company’s younger clientele has been affected by cost-of-living pressures, contributing to a 10.5% drop in like-for-like bar sales.
Debts have increased to £25.3 million, up from £22.1 million in June. Luke Johnson, former Pizza Express executive, assumed the role of chairman last September. Johnson expressed interest in pursuing opportunities to acquire established companies with unique characteristics that could lead to market leadership. The company encourages joining its Money WhatsApp group for exclusive offers and updates on financial news.