Revolution Bars Group – name change, “a fresh start” and “better reflects the businesses and brands”?

Describing itself as “a leading operator of over 60 premium pubs and bars, trading mainly under the Revolucion de Cuba, Revolution and Peach Pub brands”, Revolution Bars Group (RBG) “has decided that a change of name would reflect better the make-up of the group as it is today. The board is pleased therefore to announce that the group's name has today changed to "The Revel Collective Plc"”. Hmmm!

Revolution Bars (#RBG) – “completion of fundraising and restructuring plan” including over a billion new shares confetti

Revolution Bars (#RBG) – “restructuring plan” sanctioned by the Court

Revolution Bars (#RBG) – ends Formal Sale Process after no takeover proposals, launches “restructuring plan”

Revolution Bars (#RBG) – “following legal advice, the board has concluded that the Nightcap (#NGHT) proposal is incapable of being delivered”

Revolution updates on refinancing/sales process: the Nightcap spoof is called out

Oh dear, oh dear, it looks as if Nightcap (NGHT) will need another pretext for a rescue fund raise before late June if it is to make both payroll and quarterly rent bills. Otherwise, the Fat Lady will be gigging with Sarah Willingham. Revolution has outed Nightcap as spoofers.

Revolution Bars (#RBG) – notes its “restructuring plan”, current alternative proposals wouldn’t result in a financial return to shareholders!

Revolution Bars (#RBG) – two drunks trying to prop each other up?; notes “exploratory meeting with Nightcap” (#NGHT)

Revolution Bars (#RBG) – 79.1%, 1p per share, open offer take up, fundraising remains conditional on General Meeting approval

Revolution Bars (#RBG) – “unable to publish” results shares suspension, desperate fundraising discussions

Revolution Bars, from bad to worse: surely Luke Johnson is not daft enough to keep this afloat?

On the occasion of its most recent profits warning on January 24, Steve Moore rightly flagged up that the real issue was the balance sheet. Today the chickens have come home to roost at Revolution Bars (RBG)

Revolution Bars (#RBG) – “actively exploring all the strategic options” including a fundraising amidst trading performance “challenges”

Revolution Bars Group – warns as it’s apparently surprised that in January its customers “recover from the expense of Christmas”! (& despite recently noting “cost-of-living crisis”)

Less than three weeks ago Revolution Bars Group (RBG) issued a “Trading and Estate Update” announcement. Today the group issues an “H1 Update” and, with its proximity to the prior trading update, what’s with a current more than 20% lower share price response towards 3p?

Revolution Bars (#RBG) – 4 weeks to 31st Dec LFL sales +9%, though H1 still -2.8% and “January trade has started softly”

Revolution Bars: curate’s egg trading statement, is there a NightCap read across?

Revolution Bars (RBG) tries its utmost to draw comfort from an H1 trading statement showing like for like sales falling and the impact of the Government’s increase in the minimum wage. But it is still downing in debt and facing clear macro headwinds. Even the good news is not really good news.

Revolution Bars (#RBG) – emphasises improved festive period but H1 LFL sales still -2.8%, to close eight bars

Revolution Bars Group – it’s going concern rather than any potential “windfall gains” which should be the current focus!…

Last month writing on group describing itself as “a leading UK operator of 67 premium bars and 22 gastro pubs, trading predominantly under the Revolution, Revolución de Cuba and Peach Pubs brands” Revolution Bars (RBG), I noted the shares further down below 3.65p on the back of a full-year swing to an even adjusted £2 million loss and a balance sheet showing current assets down to £18.2 million against current liabilities up to £39.7 million and then a further £25 million of “non-current” borrowings. What of subsequent news flow from the group and the shares currently further down today to 2.65p?

Revolution Bars Group – full-year results, how’s its recently-claimed “vision and strategy to delight our guests across all our brands is delivering”?

Previously writing on group describing itself as “a leading UK operator of 67 premium bars and 22 gastro pubs, trading predominantly under the Revolution, Revolución de Cuba and Peach Pubs brands” Revolution Bars (RBG), in July with the shares at 5.9p I questioned a trading statement which argued its “vision and strategy to delight our guests across all our brands is delivering”. The shares most recently closed at 3.65p and what of them currently further down today on the back of a results announcement for the 52 weeks ended 1st July 2023?

Revolution Bars (#RBG) – FY swing to even adj. loss and net debt, notes trading ‘challenges’

Revolution Bars – trading statement argues “our vision and strategy to delight our guests across all our brands is delivering”. Er, is it?!

Revolution Bars Group (RBG) commences a “Pre-Close Statement” announcement with that it “is pleased to update on the year ended 2 July 2023 which is anticipated to be in line with market expectations”. Good news then?