The owner of Revolucion de Cuba and Peach Pubs is to go into administration, putting as many as 2,200 jobs at risk.
Revel Collective, the parent company which has 62 pubs and bars across the UK, put itself up for sale in October after facing what it called “a continued period of external challenges”.
The company said on Monday that discussions with a buyer are “well advanced” but it had filed to enter administration, with shareholders in the company to be left with nothing after the sale.
Its pubs and bars, which also include the Revolution bar chain affectionately known as “Revs”, will stay open through the process, but it has been suspended from trading on London’s junior AIM stock exchange.
