Cheltenham bar busier than before Covid
By Richard Wright | 8th October 2021
A Cheltenham bar is reporting it's busier than before Covid as the night-time economy recovers after a year of lockdowns.
Revolution in Clarence Parade has followed the national trend in seeing an increase in customers since the end of lockdown.
Located in a former church building in the centre of the town, Revolution boasts it's a place where you can drink cocktails day and night. It's a popular destination for food and party nights, seven days a week, 'with good times on tap at all times'.
The bar is part of a national chain which operates 67 bars across the country, trading under the Revolution and Revolucion de Cuba brands. The chain has recently recommenced a refurbishment programme.
Covid restrictions were fully relaxed in England from 19th July 2021, which was two weeks into the firm's financial year.
The 56 English sites, which had no restrictions over this period, have since traded at 21% higher than two years ago.
Rob Pitcher, CEO of Revolution Bars Group, said: "We spent the lockdown periods working extremely hard to refine and enhance our brand propositions with a key focus on heightening guest experience.
"As a result, it is extremely encouraging to see we have capitalised on the pent-up demand we predicted, which has been reflected in excellent trading so far this year.
"We are therefore confident in the Group's outlook assuming that there are no further restrictions on our ability to trade."
Whilst confident in the outlook for the business in the current trading environment, the Board said it 'remains cautious of the potential impact of any escalation of Covid-19 and any associated restrictions on the business' in the upcoming key trading months, including corporate Christmas parties.
The Group's balance sheet shows net cash of £3.7 million and £36.5m borrowing headroom.
The Group intends to publish its preliminary results for the year ended 3rd July 2021 on 16th November 2021.
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