The group has announced a proposed Company Voluntary Arrangement (“CVA”) in order to reduce the size of its Revolution Bar estate and rental cost base and improve profitability over the longer term. There is no impact on the Revolucion de Cuba brand. The initiative is one of several that management have introduced to counter the impact on trading of COVID-19 and will have the dual benefit of trimming the estate of underperforming sites and delivering a cash flow benefit of c.£2m p.a. The group’s ....
27 Oct 2020
Revolution Bars Group - Proposed CVA
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Revolution Bars Group - Proposed CVA
Revolution Bars Group Plc (RBG:LON) | 1.2 0 0.0% | Mkt Cap: 2.76m
- Published:
27 Oct 2020 -
Author:
Mark Paddon | Michael Clifton -
Pages:
5
The group has announced a proposed Company Voluntary Arrangement (“CVA”) in order to reduce the size of its Revolution Bar estate and rental cost base and improve profitability over the longer term. There is no impact on the Revolucion de Cuba brand. The initiative is one of several that management have introduced to counter the impact on trading of COVID-19 and will have the dual benefit of trimming the estate of underperforming sites and delivering a cash flow benefit of c.£2m p.a. The group’s ....