Revolution Bars sees Eat Out To Help Out increase August sales by 17.5 per cent
A national bar and restaurant chain has reported that a government scheme has helped to increase its sales by nearly 20 per cent.
Revolution Bars Group, which operates Revolution and Revolucion de Cuba venues across the UK, saw a 17.5 per cent increase in sales during the four weeks that the government’s ‘Eat Out To Help Out’ (EOTHO) scheme was running.
Since resuming trading in July, the group reached comparable venue sales that were 72.5 per cent of last year, with sales at 60 per cent throughout July, and 77.5 per cent in August.
Monday to Wednesday sales during August were up 188.4 per cent on 2019, with the group attributing this to the EOTHO scheme.
The group had anticipated sales of 55 per cent compared to 2019, and as a result of the higher figures is planning to continue EOTHO at its own cost throughout September.
It is continuing to reopen venues, but said that 11 of its bars are unlikely to open until social distancing requirements are relaxed, and one - Revolution Liverpool - will not be reopening at all.
Rob Pitcher, CEO of Revolution Bars Group, commented: “Having opened two thirds of our estate I’m pleased that these bars have outperformed our base case scenario assumptions.
However, sales in the 8 weeks since reopening commenced remain 27.5 per cent below last year, despite the assistance of the government’s ‘Eat Out To Help Out’ scheme that finished earlier this week.
“We have more openings planned during this week and next but will have eleven bars that are very unlikely to resume trading until there is a further relaxation of social distancing measures and late-night venues are legally allowed to reopen.
“Overall, the board’s expectations for the year ahead remain unchanged.
“We would welcome an indication from government as to their inclination to assist in the grave issues that exist with commercial rental arrears and the moratorium that is due to end on 30 September 2020 as well as an indication of further financial support for the late-night venues sector that remains closed by government order.”
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