Two popular Cardiff city centre bars have closed with immediate effect after the owner of the Revolution chain fell into administration, resulting in hundreds of job losses across the UK.
The Revel Collective, which owns Revolution, Revolucion de Cuba and Peach Pubs, has shut 21 venues nationwide, affecting 591 employees. This includes both the Revolution and Revolucion de Cuba venues in Cardiff.
The company, which operated 62 pubs and bars across the UK, had put itself up for sale in October, citing a continued period of external challenges facing the hospitality sector. Despite saying earlier this week that talks with a buyer were well advanced, the group formally entered administration.
FTI Consulting has been appointed as administrator and confirmed that a deal has been completed to secure the future of a large part of the business. The Revolution and Revolucion de Cuba brands and assets have been bought by Neos Hospitality Group, while the remaining Peach Pubs business has been acquired by the newly formed Coral Pub Company.
These transactions will see 20 Revolution, Revolucion de Cuba and Founders and Co venues continue trading, along with 21 Peach Pubs. In total, 1,582 jobs have been protected across the sites and the central support function.
However, 14 Revolution bars, six Revolucion de Cuba bars and one Peach Pub were not included in the sale and have closed with immediate effect. Alongside the two Cardiff venues, closures have taken place in cities including Glasgow, Manchester, Leeds, Nottingham, Liverpool and Reading.
The Cardiff closures mark another blow for the city’s late night hospitality scene, with both venues being well known destinations for cocktails, music and weekend nightlife.
The Revel Collective had said on Monday that discussions with a buyer were progressing, but confirmed it had still filed to enter administration as talks continued.
