The company operating Revolution bars has announced a deadline for bids next week as it seeks potential buyers. The Revel Collective, which manages 62 venues under various brands, including Revolution and Revolucion de Cuba, initiated a sale process in October 2025 due to declining sales.
According to reports from Sky News, interested parties must submit offers by January 9, with FTI Consulting overseeing the formal sale proceedings. Neos Hospitality has shown interest in acquiring some of The Revel Collective sites, although their bid status remains unclear.
The Revel Collective, formerly known as Revolution Bars, declined a buyout offer from Nightcap in April 2024 after launching a formal sales process. In 2024, the company closed approximately 36 sites as part of a restructuring plan approved by the High Court.
Challenging economic conditions and government interventions have hindered the company’s recovery efforts post-restructuring, leading to a 7.4% revenue decrease to £26.3 million in the three months ending September. The business attributed the sales drop to cost-of-living pressures on its youthful clientele, with debts rising to £25.3 million.
Luke Johnson, former Pizza Express chairman, assumed the role of chairman at The Revel Collective in September, emphasizing a strategic focus on acquiring distinctive businesses with market-leading potential.
To stay updated on money news and exclusive deals, join our Money WhatsApp group or subscribe to the Mirror’s Money newsletter for expert advice and shopping offers directly to your inbox.