Revolution Bars completes fundraising and restructuring plan
Revolution Bars Group, the operator of the Revolution, Revolucion de Cuba, and Peach Pubs brands, has completed its fundraising and restructuring plan.
Under the plan, which was announced in April, the group is closing 18 sites and reducing rents at a further 14.
Revolution will now operate 27 Revolution Bars, 15 Revolución de Cuba Bars, 22 Peach Pubs and one Founders & Co. site.
The fundraising includes up to £12.5m from new and existing investors to support the restructure.
The capital is expected to allow Revolution Bars to undertake a store refurbishment programme from the 2026 financial year, whilst also exploring site acquisition opportunities for its Peach and Revolucion de Cuba brands.
This morning, the group admitted over 1.2bn new shares and has returned to trading on the London Stock Exchange.
In March, the group confirmed that it was “exploring all the strategic options available to it”, including restructuring plans for part of the group or a potential sale.
Then, in May, hospitality company Nightcap announced it had pulled out of a potential bid for Revolution Bars. The group had submitted a proposal which it said presented “an improved outcome for Revolution Bars’ shareholders”.