A leading pub chain with dozens of venues has fallen into administration mere days before Chancellor Rachel Reeves's announcement of a £300million rescue deal to save the sector.
The Chancellor is understood to be preparing a bailout package for pubs as the industry sounds the alarm over bankruptcies due to rising business rates, with dozens of pubs leaving the high street.
The Revel Collective, which manages 62 pubs across the UK, appears to be the latest casualty of this trend after filing for administration in a move that places 3,000 jobs at risk.
Previously, the pub chain had warned against the Labour Government's tax raid on businesses, including the hike to National Insurance and the minimum wage Some 62 venues are at risk of closure with this latest development, which includes more than 20 locations attached to the Peach Pubs brand.
A popular pub chain has filed for administration ahead of the Chancellor's speech
|GETTY
Bosses of The Revel Collective also own popular hospitality chains, such as Revolution bars and Revolucion de Cuba. Previously known as Revolution Bar Group, the hospitality chain has posted an estimated £36million in losses in the last four years.
In a statement, the group said: "Since the transactions being contemplated are not expected to deliver any return to shareholders, the board has resolved to take action to protect creditors. Unless circumstances change, and in accordance with statutory requirements, the board intends to appoint administrators within 10 business days.
"The business will continue to trade, and the company will continue to work alongside advisers in order to preserve as much value as possible for all stakeholders as it advances a potential sale of all or parts of the business."
Ms Reeves is expected to announce her pub-saving measures as soon as tomorrow with the Chancellor reportedly set to relax licensing rules for hospitality venues ahead of this year's World Cup.
Government have been urged to protect pubs as a cultural staple of British life | GETTYUnder its current chairman, former Pizza Express boss Luke Johnson, The Revel Collection put itself up for sale in October 2025 as its cash crisis deepened and sales slumped.
Two months later, the business warned that shareholders were likely to see their investment wiped out as part of any deal.
The group went through a major restructuring in 2024, in which it shut 15 unprofitable bars in a bid to turn around its performance.
LATEST DEVELOPMENTS
However, this revamped plan was changed, and it launched a strategic review last autumn into funding and the sale of all or parts of the business.
Last year, the firm's bosses revealed revenue had been weaker than expected due to younger customers reining in their spending and due to warm weather over the summer.
Revenues dropped by 7.4 per cent to £26.3million over the three months to September, driven by a 10.5 per cent like-for-like decline in its bars business.
The company also disclosed that its debts grew further, rising to £25.3million from £22.1million at the end of June.
More From GB News