All Revolution Bars Group articles – Page 6
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NewsRevolution secures funding for the future
Revolution has extended its debt facilities, which it says will provide it with “sufficient liquidity for the foreseeable future”. Revolution, which operates 74 bars under the Revolution and Revolución de Cuba brands, said NatWest had increased its Revolving Credit Facility from £21.0m to £30.0m until 31 August 2020, at which point it will step down to £24.0m. NatWest has also waived all financial covenant tests at March 2020 and June 2020.
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NewsRevolution ups credit facility to £30m
Revolution Bars Group has increased its revolving credit facility with Natwest to £30m.
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NewsRevolution to cut payroll, hours and staff
Revolution Bars will have to reduce payroll costs, unprofitable trading sessions and ‘variable costs’ such as entertainment and door staff in order to mitigate the impact of COVID-19.
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NewsRevolution claws its way back into growth
Negative like for like sales might not seem like an ideal trading position for the eponymous brand of Revolution Bar Group.
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News“Revitalised” Revolution Bars says sales are up
Revolution Bars has said sales were up 3.5% for the 26 weeks ending 28 December 2019. When adjusted for exceptional items, pre-tax profits were up 20.5%. “We have continued to make significant progress revitalising the Revolution brand and further improving the performance of Revolución de Cuba,” said CEO Rob Pitcher.
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NewsFleurets markets Revolution sites
Fleurets has begun marketing eight current and former Revolution freehold units on behalf of landlord Aprirose.
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NewsPeel Hunt on Revolution Bars Group
Peel Hunt comments on RBG trading update for H1 FY20, the 26 weeks ended 28 December 2019.
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NewsFinn Cap on Revolution Bars Group
Finn Cap comments on RBG trading update for H1 FY20, the 26 weeks ended 28 December 2019.
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NewsRevolution in ‘healthy discussions’ with landlords over rent renegotiation
Revolution Bar Group is continuing to have “healthy discussions” with landlords as it works to improve the profitability of its property portfolio, CEO Rob Pitcher has told MCA.
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NewsRevolution Bars enjoys a strong Christmas
Revolution Bars has released a trading update for the 26 weeks ended 28 December 2019, and for the Christmas period, encompassing the four weeks to NYE. For the those four weeks, up to and including New Year’s Eve, sales were up 4% on last year. Weekly sales per venue averaged over £65,000. Total sales for the 26 week period were £81.2m, up 3.4% on the previous year.
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NewsContinued focus on Revolution as improvements start to pay off
Revolution Bar Group is to focus its site investment programme on Revolution in a bid to “revitalise” the brand, with 12 of its 15 upcoming refurbishment projects to be carried out at these sites, chief executive Rob Pitcher told MCA.
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NewsRevolution reveals drop in profits as it builds for the future
Revolution Bars has revealed a fall in profits for the 52 weeks ended 29 June 2019, after exceptional items of £7.1m and bar opening costs of £1.5 million delivered a pre-tax loss of £5.6m. Like for like sales were also down 3.5%, but the business said they had improved over the period, from a 4% drop in H1, to a 2.9% drop in H2 and down 1.8% in Q4.
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NewsTapas Revolution lines up Westfield Stratford
Tapas Revolution, the Spanish casual dining brand, has lined up a new site, at Westfield Stratford, and pulled out of planned openings in Oxford and Manchester, MCA has learnt.
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NewsRevolution brand to be segmented as lfls continue to fall
Revolution Bars has reported on continued challenges to trading, with like-for-like sales (lfls) down 7.3% in the eight weeks to 23 February.
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NewsRevolution H1 lfls down 4%
Revolution Bars Group’s strong festive trading could not compensate for the like-for-like sales (lfls) decline in the first quarter.
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NewsNine Revolution Bar sites brought to market
Fleurets is to market nine freehold investments that are currently let to Revolution Bars.
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NewsRevolution Bars to appoint new non-executive
Revolution Bars Group has announced it is to appoint William Tuffy as a non-executive director of the company.
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NewsRevolution terminates talks with Deltic
Revolution Bars Group has announced that its talks with the Deltic Group have been terminated.
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NewsRevolution sees positive results from new late-night trial
Revolution Bars Group chief executive Rob Pitcher has told MCA he is encouraged by early signs from the group’s trial of a more experiential late-night offer.
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NewsRevolution FY lfls down 0.6%
Revolution Bars Group saw like-for-like sales fall 0.6% in the year to 30 June, with the second half of the year seeing a dip of 3.2%.