The government’s 10pm curfew has cost Revolution Bars around a third of its revenue, the company said as it announced plans to close several sites.
Revolution said that one of its subsidiaries will now have to shut six Revolution-branded bars and reduce rents at seven others as part of a proposed company voluntary arrangement (CVA) that it hopes its creditors will support at a meeting on November 13.
In the three weeks before the curfew was introduced, the business’s bar sales were at nearly 78% of last year’s levels. In the five weeks since the curfew started, that figure has dropped to 49.4%.
Revolution Bars has confirmed that around 130 jobs are at risk as it plans to shut six sites if its company voluntary arrangement (CVA) passes next month.
The company employs a total of around 2,500 workers.
Revolution has not yet confirmed which locations are earmarked for closure.
