The Revel Collective Seeks Swift Sale Amid Cash Crisis
The Revel Collective, owner of Revolution Bars, is planning a swift sale as it faces a deepening cash crisis. The group, which operates 62 locations including 22 Peach Pubs and bars under the Revolucion de Cuba brand, has set a bids deadline for January 9 to conclude a deal quickly.
Trading in The Revel Collective's shares has been suspended, and investors have been warned that they are unlikely to receive a return from any transactions currently under consideration. The company's board has ruled out an equity fundraising option, citing insufficient support.
Industry insiders report that two parties are in talks to acquire the Peach Pubs business, which The Revel Collective acquired in 2022 when it was still known as Revolution Bars. Additionally, Neos Hospitality is among the interested parties looking to acquire some of the group's assets, particularly its late-night venues.
FTI Consulting is advising on the formal sale process. The Revel Collective declined to comment on the ongoing developments.
