Revolution Bars - Up for it!
Despite late-night, city-centre hospitality being at the sharp end of the pandemic, Revolution Bars Group (RBG) looks to have made the best of a bad situation. While the half to December 2020 (RBG’s H121) saw the loss of 55% of trading days and sales down 73%, improved estate quality (exit from eight underperforming sites out of 74) and rental concessions have been accompanied by digital enhancement (150% y-o-y higher Revs App usage) and financial restructuring (current liquidity headroom of c £10m). Strong bookings for 17 May onwards from RBG’s target young adults, arguably at lower risk from COVID-19, and the prospect of a benign environment reinforce management confidence in continued group revitalisation, which was starting to pay off ahead of the pandemic.Revolution Bars Group is an operator of premium bars. Co. has two brands, Revolution and Revolucion de Cuba. As of July 1 2017, Co. traded from an estate of 69 bars located predominantly in town or city center high streets. Co.'s bars focus on a premium drinks and food-led offering and typically trade from late morning through to late evening.
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