Revolution Bars Group has secured a further £3.5m CLBILS, while its bank NatWest agreed to waive £2m of amortisation scheduled for September 2021, taking its total available facilities to £40.3m.

Revolution said this provides the group with sufficient liquidity to trade through the government roadmap “including downside scenarios”.

In an interim trading update covering the 26 weeks to 26 December 2020, RBG made a loss before tax of £11.5m, from turnover down 73.4% to £21m, with large parts of the estate closed or severely restricted.

The group was due to open 20 bars for outdoor trading yesterday (12 April), and all bars in England for indoor trading from 17 May.

The group’s said with the fact its target customer-base of young adult are at lower risk from Covid health issues gave it confidence of bouncing back.

Meanwhile its marketplace is expected to be less competitive with some capacity come out of the market.

The group said it has two new concepts developed and ready for trial once trading conditions allows.

RBG said had agreed £5.7m in cash rental savings across the estate since the start of the pandemic.

A Company Voluntary Arrangement (CVA) resulted in exit of five loss-making sites, with a further site exited via the CVA in the second half of FY21.

Rob Pitcher, CEO, said: “Prior to the pandemic the business was outperforming our peer group. This year has provided us with the opportunity to advance the business across multiple areas which will allow us to maximise our future performance and capitalise on growth opportunities as we move towards more normalised conditions.

“With the vaccination programme running ahead of the government’s expectation and all the Covid-19 related health data exceeding even the most optimistic of forecasts, I look forward to all restrictions on personal freedoms falling away on the 21st of June and urge the Prime Minister to follow the data, not dates, and bring our ‘national day of freedom’ forward in line with the vastly better outcomes that have been achieved.

“We are excited and ready to bounce back and as we move on from the pandemic, I look forward to our brilliant teams being able to create amazing memories for our guests as we open our bars and all come back together to celebrate life and each other.’’