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Maybe get a new chief executive for a start . The current one has been saying he is turning it around for years . But all it the company does is drop in price and and ask for more cash . Wage increases will not help also with the 2500 staff going forward.
Old brand , People have moved on . Manchester still does ok .
Less than 2% of shares traded which indicates no one in bailing.
Also Babu brought in Nov and Dec 23 at prices up to 5.5p and went from zero to sixteen percent.
Personally I think they could be taken over with a return to shareholders.
The great unknown is the twenty bars they want to close. What's the lease liabilities and closure cost ? If its material it will probably go into admin.
Also this news won't help with lines of credit etc.
I disagree. We still are one of the best bands, big footprint, sites are busy - there will be competition for it. It won't get to administration nor will Luke be able to sniff us existing shareholders out on the cheap. Any buyers could let it go to administration but they run the risk of missing out on what is already a bargin.
£30m from a PE house on a wiping Debt basis is a bargin.
I bought in here knowing there were huge risks but was hoping for an unsolicited buy out. Shame we are asking for a sale but still think we will see a few good bids.
Too early.
IMO insolvency is probably 6 months a way, 9-12 months if they sell 20 soon.
I think they'll sell lock stock and barrel, maybe even get better than current market value...it's peanuts now if you factor in goodwill etc...
Aged like fine wine.
Aged like fine wine.
This looking more likely going to administration if unable to raise funds. Makes more sense for the acquirer to buy the brand for peanuts then pick and choose to operate only the profitable busy locations. Where as the remaining rental lease liabilities, redundancies and other liabilities can be defaulted in administration. Skating on thin ice this one. IMO, DYOR.
People are going to Wetherspoon these days. Cheap and packed. Shareholders turned down a bid of 100p. A few years now. Trying to get 10 million at a penny. Will wipe out current shareholders of course. Easter will be busy but all that work for nothing much.
Guess its down to the larger investors if they want to put a bit more money in, and the sale of 20 sites. at least it sounds like the board have a good direction for coming out the other side. gonna be rocky.
Revolution Bars Group PLC notes recent press speculation. Following a period of external challenges which have impacted the Company's business and trading performance, the Board is actively exploring all the strategic options available to it to improve the future prospects of the Group. These include a restructuring plan for certain parts of the Group, a sale of all or part of the Group and any other avenue to maximise returns for stakeholders. The Company also confirms it is currently engaged with key shareholders and other investors including Luke Johnson in respect of a fundraising.
The Company continues to trade in line with management's expectations.
The Company is not in talks with, nor in receipt of an approach from, any potential offeror relating to an acquisition of the issued and to be issued share capital of the Company.
REVOLUTION BARS is undergoing talks to sell off around a quarter of its venues, Sky News' Mark Kleinman first reported.
The London-listed hospitality group, which employs 2,500 people across the UK, has drawn up plans to axe roughly 20 of its underperforming bars.
The group has also reportedly approached investors in a cash call to raise £10m, which is more than its market capitalisation of less than £7m.
In January, Revolution said it would close eight bars as young people scale back on nights out amid cost pressures.
Investors close to the matter have said that without selling off more bars, the group would face insolvency as the only alternative.
Shares in Revolution Bars have cratered 57 per cent over the last year.
The news comes as yet another blow for the struggling hospitality industry.
At the start of the year Rekom UK, the country's biggest nightclub owner, called in the administrators. While just last weekend, Whitbread announced plans to sell about a third of its underperforming restaurants and pubs.
A Revolution Bars Group spokesman declined to comment to City A.M.
RE: PRESS SPECULATION
REVOLUTION BARS GROUP PLC
Released 07:00:14 26 March 2024
Strange not showing this morning’s Rns?
Revenue isnt the problem
many high volume sales hospitality locations are being closed up and down the country.
Why? No profit.
I foresee a decade of failure for smaller / medium sized companies in the hospitality sector with only the very biggest with economies of scale surviving, and even they are in really trouble, they are running out of options to save costs.
many businesses are now have to restructure reletively senior retail management roles into minimum wage positions. its desperate stuff, and the hospotaslity sector is running out of ways to cut costs.
My wife had a food and drinks voucher to use so she booked in Manchester for last Saturday. Revolucion de Cuba on Peters St, just off Deansgate.
She booked for 4pm, which was a strange time, but i was informed it was the only available slot left for that day.
I presumed they probably had limited tables designated for food.
How wrong was i. At 4pm the place was packed with a DJ getting the dancing going. A good mix, including a hen party .
Left a 6ish and the place was still rocking.
If this is a regular Friday/Saturday then they can easily cope with quieter midweek days.
RBG just need to focus on the lower performing bars and shut the worst performers and the good ones will take care of themselves.
A man has been jailed for 10 years and eight months for blinding a father-of-two in a "sickening" glass attack.
Matthew Syron, 32, lost his sight after Gareth Dean, 37, smashed a bottle into his face at Revolucion de Cuba on Call Lane in Leeds on 27 December.
Dean, of Elm Tree Close in Leeds, had admitted causing GBH with intent.
The victim, a former Leeds Rhinos rugby league player who now lives in Australia, has since regained some blurred vision in one eye.
His attacker has 10 previous convictions for 15 offences, including serious violence, Leeds Crown Court was told.
...another decent buy in the offing today...
Someone trying to pump this one again?
I wouldn’t be surprised to see a takeover offer. Stonegate offered just over £100 million which Revolution rejected. This was in 2017, before the pandemic, but still shows how undervalued this currently is at £6.5 million MCap. I think for the right offer Revolution would consider selling the Bars to focus on the Peach Pubs / food side of the business themselves. Slightest whiff of an interest and the SP flys imo.
Great time to do it for a takeover or avg down. just hope we're not all left high and dry becasue of it.
£24k buy went through way above the ask. 2.74 paid when ask was at 2.60. SP on the move again. Someone accumulating, I wouldn’t be surprised to see a TR1 in the coming days - Eldose Babu increasing his position in the company ?
As a holder since IPO have seen some considerable pain here - but still find the pubs generally busy whenever I go.
Thinking ahead to the summer - what are thoughts on the estate and showing the Euros - usually a money spinner for the pubs but not sure if Revolution really show it. Also guessing Peach (having never been to one) are unlikely to show it given higher end food offering?
Not sure whether to have one last throw of the dice here but think it is at that stage.
500 - Gap the stock
900 - Let the stock trade freely
Can only guess on the other codes
Could mean a continuation of the slide in the sp or indeed the opposite...
First of all, apologies as I’m failing to understand this.
No big sells and the price has plummeted the last few days. Big sell or big buy incoming? Can’t get my head around this. Thanks