Shares in the group behind the Revolution and Revolución de Cuba bar brands dropped by more than 20% after it issued a profit warning.
The Manchester-headquartered Revolution Bars Group said it expects its full-year EBITDA to be lower than previously forecasted as it introduces temporary closures to some of its 90 bars and pubs.
The listed group said its EBITDA is now expected to be at the bottom end of the range of market expectations between £6.7m and £10.5m.
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In a statement to the London Stock Exchange, Revolution Bars Group said the updated guidance was because of the Christmas trading period, an assumption that energy prices hold as well as other mitigating factors.
The group added that it would be closing a number of its Revolution and Revolución de Cuba sites on Mondays and Tuesdays throughout January and early February to save on energy costs.
Over the Christmas period, the group's like-for-like sales rose by 17.3% compared to 2021 but walk-in revenue was lower because of the trains strikes and cost of living crisis.
Chief executive Rob Pitcher said: "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.
"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.
"I am again proud of our team's resilience during this disrupted Christmas and New Year period, and know that they have loved, as have I, seeing our guests enjoying themselves."
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