Revolution Bars, which has venues in Glasgow, Edinburgh, Inverness and Aberdeen, confirmed on Tuesday that it is exploring all strategic options, including the potential sale of all or part of the group.
It said in a statement, “Revolution Bars Group PLC notes recent press speculation. Following a period of external challenges which have impacted the Company’s business and trading performance, the Board is actively exploring all the strategic options available to it to improve the future prospects of the Group.
“These include a restructuring plan for certain parts of the Group, a sale of all or part of the Group and any other avenue to maximise returns for stakeholders.
“The Company also confirms it is currently engaged with key shareholders and other investors including Luke Johnson in respect of a fundraising.”
Revolution Bars added that trading has been inline with expectations so far this year.
The statement followed Sky News reports that Revolution, which owns Peach Pubs and the Revolucion de Cuba chain, may be planning to close around 20 of its worst-performing venues and was seeking to raise around £10m from investors.