The Revel Collective has announced its intention to appoint administrators to the company, after actively pursuing a formal sale process.

The bar and gastro pub operator, which owns brands including Revolution, Revolución de Cuba and Peach Pubs, launched a restructuring plan in August 2024 in relation to Revolution.

However, it stated in October that it had continued to be hit by challenging economic conditions and the impact of Government interventions, including the increase in National Insurance contributions and continued revenue hits.

The Revel Collective, which is chaired by former Pizza Express chair, Luke Johnson, rebranded from Revolution Bars in 2024, and said discussions over the formal sale process are "well advanced", with the board anticipating a further announcement in the coming days.

The BBC has reported that the appointment of administrators puts 2,200 jobs at risk across the group. The Revel Collective said it will continue to trade and will work alongside as much value as possible for all stakeholders as it advances a potential sale of all or parts of the business.

The firm stated: "Since the transactions being contemplated are not expected to deliver any return to shareholders the board has resolved to take action to protect creditors. Unless circumstances change, and in accordance with statutory requirements, the board intends to appoint administrators within 10 business days."

The group’s trading of ordinary shares on AIM will remain suspended pending further notice. In the last year, shares in The Revel Collective have dropped by over 90%.

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