Revolution Bars expects boom in demand as it prepares to reopen 20 sites next month
Revolution Bars announced this morning that it expects a boom in demand when it is able to resume trading, as it revealed plans to reopen 20 branches when hospitality firms can begin outdoor service next month.
The bar chain will reopen 20 sites from 12 April and it is planning to open the rest of its 66 venues when indoor hospitality resumes on 17 May.
The firm expects a “rapid rebound in trading” when its bars reopen, due to pent up demand.
The roadmap out of lockdown has enabled it to prepare to reopen and to manage the expectations of employees, the company said.
Revolution also said the measures to support hospitality announced in yesterday’s budget had given further certainty to stakeholders and allow the sector to “regain a financial position from which it can again develop and thrive”.
The firm’s cash burn throughout lockdown has been around £400,000 to £450,000 per week, and it has liquidity of £9.8m.
It said it has “more than sufficient liquidity” to survive until hospitality reopens.