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Revolution Bars ( (GB:TRC) ) has issued an announcement.
The Revel Collective plc has resolved to file a notice of intention to appoint administrators for the company and certain subsidiaries after discussions with its secured lender, concluding that current restructuring and sale options are unlikely to yield any return for shareholders. The business will continue to trade while the board pursues an advanced formal sale process for all or parts of the group to preserve value for creditors and other stakeholders, with trading in its AIM-listed shares remaining suspended and administrators expected to be appointed within 10 business days unless circumstances change.
More about Revolution Bars
The Revel Collective plc is a leading UK operator of premium bars and gastro pubs, trading mainly under the Revolution, Revolución de Cuba and Peach Pubs brands, with a focus on experiential drinking and dining venues across its estate.
Average Trading Volume: 4,095,373
Technical Sentiment Signal: Sell
Current Market Cap: £375.5K
See more insights into TRC stock on TipRanks’ Stock Analysis page.