Today’s news in brief – 12/08/24

Revolution Bars Group will go ahead with its restructuring plan, which was first launched on 31 May. The news comes after the group’s subsidiary, Revolution Bars Limited, which proposed the restructuring plan, was sanctioned by the Court last week (8 August). The board expects this plan to deliver a “significant” annualised EBITDA improvement of £3.8m. 

Rhubarb Hospitality Collection has acquired The Brewery. The large-scale events venue can host more than 500 events annually, including many corporate events. RHC’s investment in this landmark events venue expands the firm’s footprint in UK venues and brings its total employees to over 2,500.

White Rabbit Fund has acquired Island Poke’s assets. Due to the economic turmoil of the pandemic coupled with the impact of inflation, the business proposed a company voluntary arrangement in May. White Rabbit Fund was a shareholder in the original business, and its ownership will safeguard some 104 hospitality jobs and supplier operations. 

Kricket will be opening its fifth site in late 2024. This will be the modern-Indian restaurant group’s second opening this year, and will boast 120 covers and a bar in Shoreditch. Co-founders Rik Campbell and Will Bowlby began Kricket in 2015 as a pop-up in a shipping container at Pop Brixton.