Shares in Revolution Bars sunk more than 20% as markets opened after the hospitality firm said it would shut 12% of its bar estate in a bid to "reduce future site losses."
The decision to close eight sites including in Sheffield, Southampton and Newcastle, was made because "the macroeconomic trading environment continued to be challenging, and the prospect of the statutory 10.8% increase in the national living wage in April 2024 increases the challenge."
