The Caterer

Revolution Bars in 'financially stable position' and anticipating 'reasonably quick' return to good trading levels

26 May 2020 by
Revolution Bars in 'financially stable position' and anticipating 'reasonably quick' return to good trading levels

Revolution Bars has taken out at £16.5m loan through the government's Coronavirus Large Business Interruption Loan Scheme, putting it in a "financially stable position".

The operator, which has 74 bars trading under the Revolution and Revolución de Cuba brands, had already extended its credit facility from £21m to £30m to provide "sufficient liquidity for the foreseeable future".

Rob Pitcher, chief executive, said: "Again, we welcome and are delighted with the additional support from NatWest. They continue to act as a true partner to our business and this decisive action will enable us to emerge from this crisis in a financially stable position.

"When restrictions are lifted, we will re-open with much caution – prioritising the health and safety of our employees and guests above all else. However, with the security of a stable financial position and underpinned by our young guest base, we believe that the group is well-placed to return to good levels of trading reasonably quickly."

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