Revolution CVA to see six bars close due to 10pm curfew sales drop

Revolution Bars Group has launched a company voluntary arrangement (CVA) that proposes the closure of six of its 50 bars, putting 130 jobs at risk.

The bars earmarked to close are: Sunderland, London’s America Square, Birmingham, Bath, Clapham High Street and Solihull.

The moves comes after the 10pm curfew cost the company around a third of its revenue.

In the three weeks before the curfew was introduced, the company's sales were at nearly 78% in comparison to the the same time last year. However, in the five weeks since the curfew started, sales have fallen to 49.4% in like-for-likes.

The CVA will also see a reduction in rents sought for seven other bars in Clapham Junction, Putney, Richmond, Bristol, Reading, Cheltenham and Stafford.

Chief executive Rob Pitcher said, “The CVA proposed by the group’s Revolution Bars Limited subsidiary entity, if agreed by landlords, is another proactive step to lower outgoings to help safeguard the future of the group and improve long-term performance.

“Throughout this extended period of distress caused by Covid-19, the group has sought to prioritise the health and wellbeing of its staff and customers, minimise its cash consumption, maintain good levels of liquidity to ensure its ongoing viability, and to be in a position to take advantage of opportunities that may arise once restrictions are lifted.”