Could it be a CVA for Revolution Bars?

26 September 2020

Could it be a CVA for Revolution Bars?

Revolution Bars shares how challenges to its recovery since the national lockdown had been ‘’exacerbated’’ from the tighter restrictions imposed this week which include a 10pm curfew for those among the hospitality sector.

Revolution Bars currently runs 74 UK outlets but amid this situation, there are plans to reduce this amount. Only 39 of the 74 bars have reopened since lockdown and 2,775 staff were furloughed.

A number of options for its survival and to avoid going bust, have been explored by its board, including restructuring through a company voluntary arrangement (CVA).

‘’No decisions have yet been made and there is much further work to complete before the board decides on any appropriate course of action’’.

Categories: Hospitality, CVA

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