Revolution Bars Group plc has announced the permanent closure of its Reading location due to the impact of the cost of living crisis on young customers, part of a wider shutdown of eight sites across the UK. The parent company, Revel Collective, has filed for administration after struggling with economic challenges and increased operational costs. While the bars will remain open during the administration process, discussions with potential buyers may leave shareholders with nothing. The hospitality sector faces ongoing pressures, with significant closures reported recently, prompting calls for financial support from the government.
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