Revolution Bars in 'financially stable position' and anticipating 'reasonably quick' return to good trading levels
Revolution Bars has taken out at £16.5m loan through the government's Coronavirus Large Business Interruption Loan Scheme, putting it in a "financially stable position".
The operator, which has 74 bars trading under the Revolution and Revolución de Cuba brands, had already extended its credit facility from £21m to £30m to provide "sufficient liquidity for the foreseeable future".
Rob Pitcher, chief executive, said: "Again, we welcome and are delighted with the additional support from NatWest. They continue to act as a true partner to our business and this decisive action will enable us to emerge from this crisis in a financially stable position.
"When restrictions are lifted, we will re-open with much caution – prioritising the health and safety of our employees and guests above all else. However, with the security of a stable financial position and underpinned by our young guest base, we believe that the group is well-placed to return to good levels of trading reasonably quickly."
