StockMarketWire.com - Bar owner Revolution Bars said it was exploring a reduction in the size of its estate via a company voluntary arrangement.

The company was considering the move after the UK government introduced further restrictions to curb the spread of Covid-19, including forcing pubs and bars to close at 10pm.

Revolution Bar said it was working with advisers to assess various strategic options.

'The board is currently evaluating the potential impact of the latest developments on the group's business before deciding what the next steps should be,' it said.

'One of the potential options being explored is a reduction in the size of the group's estate by the implementation of a company voluntary arrangement.'

Revolution said it had a strong balance sheet following a £15m equity fundraising and the extension of its banking facilities announced in June.

It added, however, that the long-term nature and potential impact of the latest operating restrictions meant it must consider all necessary options to ensure its business remained viable.


At 1:36pm: [LON:RBG] Revolution Bars Group Plc share price was -1.35p at 9.65p



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