SHARES in Revolution Bars have been suspended after it failed to publish its interim results.

The troubled business, which owns Revolution, Revolución de Cuba and Peach Pubs, told investors it is "actively exploring" all options to keep the business afloat.

It said this could include a "restructuring plan" for certain parts of the group or a sale of "all or part" of the company.

Revolution also confirmed it was in talks with bakery Gail's chairman Luke Johnson regarding fundraising. The company said suspension from trading will be lifted with the publication of its interim results in "due course".

This development delivers a blow to the hospitality chain, which owns 58 bars and 22 gastro pubs.

The firm lowered its profit expectations back in January after warning cash-strapped youngsters ditching night outs were continuing to chip away at its earnings.

In a trading update, the nightlife operator said it expected EBITDA to be £3m to 3.5m, down from a range above £5m.

(c) 2024 City A.M., source Newspaper