The group behind the Revolution, Revolución de Cuba, Peach Pubs and Founders & Co brands says its board decided a change of name would ‘better reflect the make-up of the group’.
It comes after Revolution Bars Group implemented a restructuring plan earlier this year that allowed the group to amend and extend lending facilities, exit certain loss-making sites, and implement rent reductions at others to return them to profitability.
Under the plan, it also raised £12.5m in new funding, with sector investor Luke Johnson joining the board as non-executive chairman.
“The change of name to The Revel Collective signals a fresh start and better reflects the businesses and brands within the Group today, which includes Peach Pubs and Founders & Co,” says Pitcher.
“Change is good, and always provides opportunity, especially now from the firmer platform from which the group is operating.
“Importantly, for our people it provides a new dawn and stability from the uncertainty which our restructuring caused.
“I am excited to be putting the new plans into action and to be beginning a new era in our journey where we can focus on our team and our guests, growing the business and delivering positive value for all stakeholders.”
Trading in the group’s shares under the new company name became effective at 8am today (11 October).
