Nights out: Revolution Bars on track for earnings ahead of market expectations

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Troubled Revolution Bars is close to finalising around £10m of emergency funding that would provide a stay of execution as it draws up plans that would result in the closure of more bars. 
The firm has already closed eight underperforming sites so far this year.

Revolution Bars has said it is confident of posting earnings slightly ahead of market expectations after strong trading over the Jubilee bank holiday.

The bar operator, which owns brands such as Revolucion de Cuba and Revolution, said it had seen a “continued strong performance” across its sites.

“Whilst not being immune to the widely reported inflationary headwinds in the UK, we continue to manage and control costs tightly wherever possible,” a trading update stated.

Its board was confident that adjusted EBITDA after rental charges would be slightly ahead of the top end of market expectations, which currently stand at £10m. 

The bar operator was also on track to open an additional six bars in the 2023 financial year, with openings in Exeter and Preston shortly.