Major bar chain to close on Mondays and Tuesdays
And shares in the company tumbled by as much as a quarter on Tuesday.Revolution Bars Group, which also owns the Revolucion de Cuba and Peach Pub brands, said earnings for the year are likely to be lower than predicted.
The bar chain has 90 venues across the UK, which typically trade from late morning through into the late evening. We've asked the company how many of its venues will close on Mondays and Tuesdays and will update the story as soon as we know. Rob Pitcher, chief executive officer of the group, said: "The decision to close some bars on a Monday and Tuesday in the early weeks of the year allows us to minimise energy usage in our quietest period whilst also allowing our teams to recover after the busy Christmas period.”
The group said it saw like-for-like sales rise by 17.3% over the five weeks to December 31, compared with the same period in 2021, as it benefited from "strong" office Christmas party demand.
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