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Revolution and Revolucion de Cuba bars in Aberdeen and Inverness may go up for sale

Their owner has struggled with impact of the cost-of-living crisis.

The Revolution bar on Belmont Street, Aberdeen.
The Revolution bar on Belmont Street, Aberdeen. Image: Scott Baxter/ DC Thomson

Two bars in Aberdeen and another in Inverness may be put up for sale, the owner has revealed.

London-listed operator Revolution Bars Group has mooted a sale of part or all of the group.

Responding to “recent press speculation”, Revolution said it had faced a period of external challenges which have impacted its business and trading performance.

Revolution says all options open

The board is “actively exploring all the strategic options available” in an attempt to improve future prospects.

Revolution added: “These include a restructuring plan for certain parts of the group, a sale of all or part of the group and any other avenue to maximise returns for stakeholders.

Bar firm working on fundraising plan

“The company also confirms it is currently engaged with key shareholders and other investors including Luke Johnson in respect of a fundraising.”

Mr Johnson  is a former chairman of the Pizza Express chain, the Royal Society of Arts and Channel 4.

Revolution in Aberdeen
Image: Scott Baxter/ DC Thomson

Further announcements by Revolution will be made “as appropriate”.

The group stressed it was not currently in talks with, nor in receipt of an approach from, any potential suitor.

There are Revolution bars on Belmont Street in Aberdeen and Church Street in Inverness.

The courtyard of the Academy Centre in Aberdeen is home to one of the group’s Revolucion de Cuba cocktail bars and restaurants.

Revolution’s younger customers hit hardest by higher cost of living

Revolution slashed its annual outlook earlier this year.

It said younger customers were being disproportionately hit by the cost-of-living crisis.

And earlier this week Sky News claimed Revolution may shut around 20 bars, about one-quarter of its total.

A source told Sky the closure plan could result in “hundreds” of redundancies.

Revolucion de Cuba in the Academy Centre courtyard in Aberdeen.
Revolucion de Cuba in the Academy Centre courtyard in Aberdeen. Image: Scott Baxter/ DC Thomson

Revolution was founded in 1991, when two friends – Roy Ellis and Neil Macleod – opened a small bar in Ashton-under-Lyne, Manchester.

The group now operates about 90 venues, employing more than 3,000 people, across the UK.

But in a trading update in January the company said it was shutting eight of its least profitable bars to mitigate losses.

Younger patrons feeling the pinch

Chief executive Rob Pitcher added: “Our younger customers are still feeling the disproportionate effect of the cost-of-living crisis and the national living wage will increase materially in April 2024.

“Therefore, we have taken the difficult yet ultimately beneficial step for the group to close several bars which are unprofitable.”

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