Staffordshire bar set to stay open as pub chain strikes deal with owners

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A Staffordshire bar is expected to remain open after the company behind it reaches a deal with its owners and creditors.Chain Revolution has agreed to shut down six locations across England, while seven will have sales-based rents with a minimum monthly amount.

It comes as the brand has filed a compulsory voluntary agreement (CVA) that will see 130 jobs cut but hundreds saved across the country.

Six bars, in America Square and Clapham High Street, in London, alongside sites in Birmingham, Sunderland, Bath and Solihull will close under the new deal.

While the Riverside branch in Stafford, as well as those in Clapham Junction, Putney, Richmond, Bristol, Reading and Cheltenham will have rents based on sales for two years.

CEO Rob Pitcher had said earlier: “The CVA offered by the group subsidiary Revolution Bars Limited, if approved by the owners, is another proactive step to cut spending to help preserve the group’s future and improve long-term performance. ”

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Revolution says it expects the Christmas season – usually a hit with the hospitality industry – to be “seriously compromised” and believes that a return to “near normal levels” cannot be expected until spring. .

Mr Pitcher added: “Throughout this long period of distress caused by Covid-19, the group has sought to prioritize the health and well-being of its staff and customers, to minimize its consumption cash flow, maintain good liquidity levels to ensure its continued viability, and be able to take advantage of opportunities that may arise once restrictions are lifted. ”

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