Overview
- FTI Consulting was appointed administrator and immediately sold Revolution, Revolución de Cuba and Founders & Co to Neos Hospitality, with Peach Pubs going to the newly formed Coral Pub Company.
- The transactions keep 41 sites trading and safeguard 1,582 jobs, while 21 venues shut at once with 591 redundancies.
- Closed sites include Revolution bars in cities such as Manchester (Oxford Road and Parsonage Gardens), Glasgow (Renfield Street), Cardiff, Nottingham, Leeds, Sheffield and Durham, plus Revolución de Cuba in Cardiff, Derby, Liverpool, Reading, Harrogate and Aberdeen, and The Almanack in Kenilworth.
- Revel Collective’s shares are suspended and the company is set to be removed from AIM in the coming weeks, with shareholders expected to receive no return.
- Management blamed weak late‑night trading and higher costs, citing employer NICs changes, minimum wage rises and spirits duty adding over £4m annually, after a 2024 restructuring that had already closed 15 bars and a 2025 sale process.