‘Another one bites the dust’, sob punters as iconic bar chain shuts ‘amazing’ venue forever in string of mass closures

PUNTERS had been devastated after studying a bar chain favorite is about to close down 12 iconic areas – with extra in danger.

Disillusioned revellers cried “the place will we go now” as the favored pub department introduced it might be calling final orders for good in simply days.

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Revolution Bars confirmed their department on Torquay’s Fleet Stroll in Devon shall be serving their last drinks after almost a decade.

In the meantime, Revolution Bars Group mentioned earlier this yr that 5 Revolution venues, 5 Revolución de Cuba branches and a Playhouse pub had been going to wave goodbye completely.

However, Devon websites had supposedly been secure from closure.

A Revolution spokesperson wrote: “We’re sorry to say that we’ll be closing the doorways on Torquay on or round 09/06/2024.

“We will be throwing the most effective events and serving up the most effective meals up till this time, come and be a part of us for one final Pornstar Martini.”

A devastated buyer penned their frustration on Fb and wrote: “Oh no I really like Revs.”

“The place are we going to go for cute cocktail dates now?” cried one other.

A 3rd wrote: “Good luck everybody for the longer term.”

Others expressed their misery with broken-hearts and crying-face emojis.

It comes as Revolution Bar Group introduced it could be pressured to shut 12 of its bars in a bid to shore up its funds, after six shuttered already.

In March, the bar group was reportedly axeing round 20 of its worst-performing pubs.

There was mentioned to be proposals to cut round 1 / 4 of its venues to remain afloat.

Chief government Rob Pitcher mentioned beforehand: “We now have had the most effective festive buying and selling interval for 4 years with all of our manufacturers recording constructive like-for-like gross sales and Revolucion de Cuba being the standout performer.

“Nevertheless, our youthful prospects are nonetheless feeling the disproportionate impact of the cost-of-living disaster and the nationwide dwelling wage will improve materially in April 2024.

“Due to this fact, we have now taken the troublesome but in the end helpful step for the group to shut a number of bars that are unprofitable.”

Nevertheless, in a current assertion, the group mentioned it was seeking to increase as much as £12.5million via fundraising.

But when it doesn’t go forward, it might face “liquidity pressures” subsequent yr, the group mentioned.

Why is Revolution closing down bars?

The group revealed it was coping with the price of dwelling hitting prospects’ funds and prepare strikes affecting its youthful clientele

The bar and pub chain additionally mentioned it was struggling following pressures attributable to the Covid-19 pandemic, rising inflation and employees shortages.

Revolution needed to shut six bars again in 2020 because it struggled to maintain afloat as a result of coronavirus restrictions.

The bar chain shuttered venues in London, Bathtub, Birmingham, Clapham, Solihull and Sunderland.

As a result of hovering vitality payments, the chain was pressured to close its venues on Mondays and Tuesdays in January 2023.

In January, the bar group mentioned it might shut eight of its boozers and blamed youthful prospects spending lower than they used to.

Then in April this yr the corporate confronted backlash when it had its shares suspended from the London Inventory Alternate.

The group, which owns 58 bars and 22 gastro pubs, was required to publish its interim outcomes for the second half of final yr by the tip of March.

But it surely mentioned it was unable to take action, which resulted within the suspension of its shares on the AIM index on the time.

The corporate didn’t clarify the delay however mentioned the suspension could be lifted when the outcomes are printed in “due course”.

Public corporations should comply with sure guidelines, like issuing common monetary updates, to keep away from having their shares suspended.