Revolution Bars Group Reports Strong Festive Sales but Plans Venue Closures

Revolution Bars Group, the U.K. bar operator, has announced that it will be closing some of its less profitable venues due to challenging macroeconomic conditions, despite a strong performance over the festive period.

During the four weeks ending on December 31, the group reported a noteworthy 9% increase in group like-for-like sales, representing its best festive business period in four years.

Although like-for-like sales for the first half of the fiscal year were down 2.8%, the company noted that there is an improving trend, particularly during the period which included New Year's Eve.

CEO Rob Pitcher attributed the decrease in sales to the disproportionate effect of the cost-of-living crisis on their younger customers. Furthermore, he expressed concerns about the upcoming increase in the national living wage in April, which is expected to further challenge the company's business conditions.

In an effort to reduce future site losses, Revolution Bars Group will be closing eight bars located in Beaconsfield, Derby, Reading, Liverpool, Wilmslow, Sheffield, Southampton, and Newcastle-Under-Lyme. However, the company will continue operating 58 bars and 22 pubs. Additionally, it is actively working on redeployment plans to offer alternative employment opportunities to the teams affected by these closures.