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26
Jan

Another Harrogate town centre bar faces an uncertain future after its owners filed for administration.
Latin American-inspired Revolución de Cuba opened in the former Rehab nightclub unit on Parliament Street in 2016 following a £1 million refurbishment.
But Revel Collective, whose brands also include Revolution and Peach Pubs, announced tonight (January 26) it had resolved to file a notice of intention to appoint administrators.
The company, which employs 2,300 staff at about 60 pubs and bars in the UK, said in a statement:
“The board has been actively pursuing the formal sale process to identify an acquirer or acquirers for the business. Those discussions are well advanced, and the board anticipates a further announcement in the coming days.
“The business will continue to trade and the company will continue to work alongside advisers in order to preserve as much value as possible for all stakeholders as it advances a potential sale of all or parts of the business.”
Michael Lynch, partner at city law firm DMH Stallard and restructuring and insolvency specialist, said:
"From a legal perspective, administration can be a reset for a business and put it onto a stronger footing going forward; if a purchase of the business does take place, it can save jobs and reinvigorate the business.”
Revolución de Cuba, which serves ‘Latin-inspired cocktails and freshly prepared tapas’, is the latest Harrogate hospitality business to experience difficulties.
Banyan Bar and Kitchen, which had operated on John Street for 20 years, closed on January 3. Savoro pizzeria and bar on Beulah Street closed suddenly just before Christmas and Andy Burrows, the owner of District Bar on Cold Bath Road appealed for support to stay open.
Last week Jay Smith, the owner of Montey’s on The Ginnel, said bars had reached a “tipping point” due to the tough trading environment. He said his venue’s rateable value will go up from April 1, from £60,000 to £95,000: an increase of nearly 60%.
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