A high-street bar chain which recently emerged from a major financial restructuring has changed its name.
Revolution Bars Group, which operates of 60 bars trading under the Revolucion de Cuba, Revolution and Peach Pub brands, has been renamed The Revel Collective.
The company said in a statement to the stock market that the name change, which will be effective from Monday (October 14) will “reflect better the make-up of the group as it is today”. Trading of shares under the new name will also commence on Monday.
The change comes after the company announced in August that it secured High Court approval for a restructuring plan, which staved off insolvency but resulted in the closure of around 25 bars. Revolution ended its leases on several loss-making venues following a challenging period sparked by rising costs and the impact of the cost of living crisis.
Read more:
VisitScotland chief hails global impact of tourism sector
Glasgow Buchanan Galleries rethink will have lasting impact
Turn old Glasgow offices into homes, property veterans say
Chief executive Rob Pitcher said: “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.
“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."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here