It has been confirmed that Revolution Milton Keynes is safe from closure following the news that the group is closing six sites.
Revolution Bars Group, which operates dozens of bars in the country, says that the Government's 10pm curfew has cost it around a third of its revenue.
The company adds that, in the three weeks before the curfew was introduced, its sales were at nearly 78% of last year's level.
However, in the five weeks since the curfew started, its sales have dropped to 49.4% of that level "due to the imposition of the 10pm curfew and more recently localised lockdowns, with more severe operating restrictions now affecting many of the group's reopened bars".
One of Revolution Bars Group's subsidiaries, Revolution Bars Limited, will have to close six Revolution-branded bars and reduce rents at seven others as part of a proposed company voluntary arrangement that will be put to creditors on 13 November.
And the locations of the six affected sites have since been announced, with the Xscape restaurant/bar being deemed safe from closure.
The bars that will be closing are Revolution America Square (London), Revolution Sunderland, Revolution Birmingham, Revolution Bath, Revolution Clapham High Street, and Revolution Solihull.
In its report, the group said: "Given the latest government restrictions under which the group is operating, the group's trading outlook is uncertain and based on all the information and commentary available, the board now anticipates that the important Christmas trading period will be severely compromised and any return to near normal levels will not be possible before next spring at the very earliest."
Revolution Bars chief executive Rob Pitcher added: "Throughout this extended period of distress caused by COVID-19, the group has sought to prioritise the health and well-being of its staff and customers, minimise its cash consumption, maintain good levels of liquidity to ensure its ongoing viability and to be in a position to take advantage of opportunities that may arise once restrictions are lifted.
"The CVA proposed by the group's Revolution Bars Limited subsidiary entity, if agreed by landlords, is another proactive step to lower outgoings to help safeguard the future of the group and improve long-term performance."
Additional content by Sky News
