Revel Collective pre-pack preserves 2,000 jobs

The administrators of The Revel Collective plc and 16 related companies have released their proposals and SIP 16 statement outlining the two pre-pack sales they completed shortly after their appointment and the anticipated recoveries for creditors of the collapsed bar empire.

Lindsay Hallam, Oliver Wright and Matthew Callaghan of FTI Consulting were appointed as joint administrators on 27 January 2026 after efforts for a solvent sale were unsuccessful. The administrators attribute the group’s collapse to sustained trading headwinds in the UK hospitality sector, including weaker discretionary consumer spending, inflation-driven cost pressures across food, drink, utilities and labour, and the ongoing impact of elevated interest rates on a leveraged capital structure.

The proposals note that, despite the closure of several loss-making sites under a 2024 restructuring plan, trading volatility and margin compression continued to erode liquidity over time, while refinancing and alternative funding options were exhausted in the months leading up to appointment. Against that backdrop, the directors concluded that an immediate administration and pre-pack sale offered the only realistic means of preserving value and protecting the underlying brands.

Accordingly, immediately on their appointment, the administrators completed two pre-pack sales, preserving more than 2,000 jobs across the Revolution Bars and Peach Pubs brands. The Bars business was sold to NEOS Holdco Limited for £10 million, while the Pubs business was sold to Coral Pub Company Acquisition Limited for £6.5 million. Approximately 1,400 employees transferred with the Bars business and around 690 with the Pubs business, with certain head office and support roles made redundant.

Unfortunately, the sales do not mean creditors will be made whole. Senior secured lender NatWest is owed approximately £28 million at group level. The administrators estimate that fixed charge recoveries will deliver around £14.5 million, with no recovery expected under floating charge security. Preferential and secondary preferential claims, including HMRC’s claims for PAYE, NIC and VAT, may receive partial recoveries in certain entities, but unsecured creditors are not expected to receive a dividend.

Read the administrators’ proposals here.