Renowned Birmingham city centre cocktail bar on Temple Street at risk of closure

A popular bar and restaurant in Birmingham city centre could be at risk of closure due to a company overhaul.

The Revolution Bars Group which owns one of the city’s renowned tapas and cocktail restaurants on Temple Street has outlined plans for an overhaul that could see 18 of its bars across the UK shut down - no confirmation of which sites will be shut has been announced yet.

The company owns Revolución de Cuba venue on Temple Street in Birmingham city centre which opened in 2018 which is open as normal this weekend - until 2am tonight, Saturday and Sunday. It’s a Cuban inspired venue with a menu of Latin-inspired dishes and fresh tapas, and a selection of rums and cocktails and a nightclub style venue upstairs with cool beats and chilled vibes.

In January, the company announced the closures of Revolution Bar sites in Beaconsfield, Derby, Reading, and St Peters Liverpool, with two Revolucion de Cuba sites in Sheffield and Southampton also closing their doors.

The Revolution Bars Group has now outlined the proposed restructure, which would involve the closure of 18 sites and rent reductions at a further 14, alongside an associated equity raise of up to £12.5m featuring new and existing investors, including prominent leisure entrepreneur Luke Johnson who would become chairman of the business if the restructure is sanctioned.

The hospitality firm also launched a formal sale process as an alternative to the restructure and fundraising.

What’s been said about the company overhaul at Revolution Bars Group?

In a statement to Insider Media, Rob Pitcher, chief executive of Revolution Bars Group plc, said: "Following a period of macro-economic and external challenges which has impacted both the company and disproportionately its Revolution brand's young customer base and consequently our trading, the board has had to consider all strategic options for the Group to improve its future prospects and provide the best outcome for all stakeholders.  

"After much consideration, the board concluded that a plan to restructure the business, together with a fundraising of up to £12.5 million and to simultaneously launch a formal sale process would deliver the best value.

"We are driven by the imperative to deliver to stakeholders a business which is fit for purpose in today's environment, better balanced and financed in a way to provide a sustainable long-term future for the Group which, in time, has the opportunity to grow and flourish again."