The Revel Collective, which runs venues under the Revolucion de Cuba, Revolution and Founders & Co brands, has filed a notice to appoint administrators to protect creditors and is in advanced talks over a potential sale
A pub chain which owns multiple venues across Wales has announced plans to bring in administrators. The Revel Collective, which operates venues under the Revolucion de Cuba, Revolution, Founders & Co and Peach Pubs names, announced it had submitted a notice to appoint administrators “to protect creditors”.
The company remains engaged in discussions regarding a potential sale, noting that these talks were “well advanced” and that it anticipates making a further statement “in the coming days”, while continuing negotiations over a possible acquisition.
The business operates three locations in Wales; Revolution in Cardiff city centre, Revolución de Cuba, also in Cardiff city centre, and Founders & Co in Swansea.
The Revel Collective, led by former Pizza Express chief Luke Johnson, put itself on the market in October 2025 as its financial difficulties intensified and turnover declined. For the latest restaurant news and reviews, sign up to our food and drink newsletter here
It cautioned two months later that shareholders were likely to lose their investments as part of any transaction. In a statement released on Monday the company said: “Since the transactions being contemplated are not expected to deliver any return to shareholders, the board has resolved to take action to protect creditors.
“Unless circumstances change, and in accordance with statutory requirements, the board intends to appoint administrators within 10 business 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.”
The group carried out a significant restructuring in 2024, closing 15 loss-making bars in an attempt to improve its fortunes. However, the transformation efforts stumbled and it initiated a strategic review last autumn, examining funding options and a potential sale of all or parts of the operation.
It operates from approximately 62 locations and employs more than 3,000 staff as of the end of June 2024. Company executives revealed in October that takings had been lower than anticipated as younger patrons tightened their belts and due to hot weather during the summer months.
Takings fell by 7.4% to £26.3 million over the three months to September, fuelled by a 10.5% like-for-like drop in its bars division. The firm also revealed that its borrowings increased further, climbing to £25.3 million from £22.1 million at the end of June.
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