A well-known entertainment business recognized for its iconic establishments like Revolucion de Cuba has revealed intentions to appoint administrators, while also suggesting that discussions regarding a potential sale are in advanced stages.

The Revel Collective, the company behind Revolution bars group which operates various venues including popular Revs locations and Peach Pubs brands, has acknowledged filing a notification to appoint administrators on Monday to safeguard creditors.

Despite this action, the group has disclosed ongoing negotiations for a potential sale and anticipates providing further details on this matter in the near future.

In a released statement, the company stated, “Given that the anticipated transactions are unlikely to yield returns for shareholders, the board has decided to take measures to safeguard creditors. Barring any changes in circumstances and in compliance with legal obligations, the board plans to appoint administrators within the next 10 business days.”

The group emphasized its commitment to continuing operations and collaborating with advisors to maintain value for all stakeholders while pursuing a potential sale of the entire business or segments thereof.

In the event of administration, over 60 venues under the company’s umbrella could face jeopardy.

These developments follow approximately three months since the operator initiated a strategic review and kickstarted a new sales process, as reported by The Caterer.

The Revel Collective has reportedly faced challenges amidst the current cost-of-living crisis and adjustments to minimum wage rates introduced in the recent budget.

Previously known as Revolution Bars Group after a restructuring in autumn 2024, the company highlighted the demanding economic environment and the collective impact of government interventions as factors hindering performance improvements.

It pointed out that expenses related to employer National Insurance Contributions thresholds, spirits duty, and the minimum wage hike collectively amounted to an excess of £4 million annually.

Late last year, the company disclosed engagement with numerous potential buyers for its businesses, cautioning that the contemplated transactions were not expected to generate returns for shareholders.

Originating as a small bar in 1991 in Ashton-under-Lyne, Greater Manchester, the group expanded nationwide and currently operates over 60 venues, including bars and gastropubs predominantly under the Revolution, Revolución de Cuba, and Peach Pubs brands.