11th Oct 2024 11:23
Revel Collective PLC - Manchester, England-based operator of 65 pubs and bars under the Revolucion de Cuba, Revolution and Peach Pub brands - Changes name from Revolution Bars Group to "reflect better the make-up of the group as it is today". Chief Executive Officer Rob Pitcher says the new name "signals a fresh start" for the company, which he says is now on a "firmer platform". For company staff, it "provides a new dawn and stability from the uncertainty which our restructuring caused", he says. Revolution Bars completed a court approved financial restructuring plan back in August, having swung into loss in 2023. The restructuring involved amending and extending secured lending facilities, exiting the leases of some loss-making bar sites, and implementing rent reductions at others.
Current stock price: 0.80 pence for GBP12.0 million market capitalisation
12-month change: down 76%
By Tom Waite, Alliance News editor
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