Revolution Bars blames the demise of Friday night drinking as it sinks to a £22m loss
Revolution Bars swung to a £22.2m loss for the year to the end of June
Revolution Bars has warned that the demise of Friday night drinking has hurt sales as more people work from home.
The company revealed it swung to a £22.2million loss for the year to the end of June from a profit of £2.1million the year before.
Revolution – which also owns Peach Pubs, Founders & Co and Playhouse – has suffered as an increasing number of punters work from home during the week – limiting the pool of customers it can get through its doors during the working week.
‘The working from home trend, especially on Fridays, historically our second largest night, has affected our sales,’ a spokesman said.
Although total revenues were up by £11.8million to £152.6million in the year thanks to its takeover of gastropub chain Peach Pubs last October, like-for-like sales, which strips out these new venues, were down by 8.7 per cent.