Popular bar chain Revolution will water down its opening hours due to its skyrocketing energy bills this January and February.
Announced in its trading update yesterday, the Revolution Bars Group, which also owns the Revolucion de Cuba and Peach Pub brands, will shut sites on Mondays and Tuesdays for the next two months.
The closures will also mean the group's happy hour weekdays, in place in various venues, will be slashed in number as a result of the move.
Earnings for the Revolution Bar Group over the next year are predicted "likely to be lower than previously guided" and its earnings before interest, tax, etc are expected to be at the bottom end of market expectations.
The group said this ranged between £6.7 million and £10.5 million.
The bar chain has around 90 venues across the UK, and Revolution has said that less than 20 of its venues will introduce the reduced trading days however there has been no confirmation as to what locations will be affected.
In the trading update, Rob Pitcher, chief executive officer of the group, said: "The board have reviewed their expectations for the full year, taken a number of actions to mitigate the external factors where possible, and will continue to track these closely.
"The decision to close some bars on a Monday and Tuesday in the early weeks of the year allows us to minimise energy usage in our quietest period whilst also allowing our teams to recover after the busy Christmas period."
Even with the group's boss noting that the Christmas period was "busy" due to the high demand for Christmas parties, the festive trading period saw sales down 9% against pre-pandemic levels from 2019.
He added: "'The first Christmas since 2019 without the shadow of Covid, saw a new company record for pre-booked party revenue allowing us to be optimistic of a strong Christmas period.
"However, the continued train strikes had a material impact on whether guests attended their office Christmas parties, how long they stayed and whether they met up with friends on a separate occasion."
"Given the current economic environment, the coming months are going to be challenging and uncertain, not only for us but for many businesses. We are not immune to this."
In 2020, Revolution had to close six sites in London, Bath, Birmingham and Sunderland when it had a Company Voluntary Arrangement (CVA) approved after struggling during the Covid-19 pandemic lockdowns.
The bar group has not mentioned the closure of any of its sites in its recent trading update.
