The company operating Revolution bars has announced a deadline for bids next week as it seeks potential buyers. The Revel Collective, managing 62 venues under various brands, including Revolution and Revolucion de Cuba, initiated the sale process in October 2025 due to declining sales.
According to reports from Sky News, interested bidders must submit offers by January 9, with FTI Consulting overseeing the formal sale proceedings. Neos Hospitality has shown interest in acquiring some sites owned by The Revel Collective, although their participation in the bidding process remains uncertain.
The company, previously known as Revolution Bars before rebranding in 2024, had earlier launched a sales process in April 2024 but discontinued it after rejecting an offer from Nightcap. In 2024, the business closed approximately 36 sites as part of a restructuring plan approved by the High Court.
Challenges such as economic conditions and government interventions have hindered the company’s recovery efforts since the restructuring. Revenue dropped by 7.4% to £26.3 million in the three months leading up to September, primarily driven by a 10.5% decline in like-for-like sales in its bars segment. The company attributed the sales decline to cost-of-living pressures on its younger clientele and increased debts, rising to £25.3 million from £22.1 million.
Former Pizza Express executive Luke Johnson assumed the chairmanship of The Revel Collective in September, succeeding Keith Edelman. Johnson expressed interest in acquiring distinctive companies with unique characteristics to potentially lead the market.
The Mirror contacted The Revel Collective for comments on the ongoing developments. The company continues to navigate challenges in the industry, seeking viable solutions to address financial pressures and sustain its operations.