Revolution Bars was bailed out by its creditors and landlords, with 88% voting in favor of a Voluntary Company Agreement (CVA) restructuring plan.
As part of the contract, six locations will be closed at seven bars in the chain for two years, with the loss of around 130 jobs and sales-based rents. The remaining locations in the company’s stable will continue to trade with lock restrictions.
The six revolution bars slated to close are America Square and Clapham High Street in London, as well as locations in Birmingham, Sunderland, Bath and Solihull.
The seven locations with revenue-based rents with minimum rental thresholds for the duration of the two-year CVA period are Clapham Junction, Putney, Richmond, Bristol, Reading, Cheltenham and Stafford.