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Struggling Revolution bars reject rival's takeover bid
Daily Express
|May 29, 2024
TROUBLED bar chain Revolution has rejected a rescue approach from rival Nightcap and warned that it faces a cash crunch within months.
It said that the offer from Nightcap was unworkable, given the time constraints, costs and legal, procedural and execution issues involved.
Revolution said without better offers, the best option to save the business is for shareholders to back its upcoming £12.5million emergency fundraising and cost-cutting plan.
“Following legal advice, the board has concluded that the Nightcap proposal is incapable of being delivered,” the company said in a statement.
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FLERE HISTORIER FRA Daily Express
Daily Express
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