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Revolution Bars shares suspended as future uncertain

Revolution Bars Group PLC said its shares have been temporarily suspended from trading on AIM, after the company failed to publish interim results in time.

Results covering the 26 weeks to December had been required by March 30 under the market’s rules, Revolution said in a statement.

However, the struggling bar operator explained it had been unable to publish such an update, meaning shares would cease trading on Tuesday and not resume until results were uploaded.

Revolution confirmed last week that a sale of all or part of the business was being explored alongside a restructuring plan, following reports that up to 20 pubs could close and that the chain was looking to raise £10 million.

Some outlets had already closed in January following ahead of a profit warning later in the month.

Revolution blamed cost of living pressures on its younger customer base, while wage bill increases in April threatened to add further pressure.

"The company continues to evaluate all the options available to it, including engaging with key stakeholders and potential investors with respect to fundraising," Revolution added.