Revolution Bars Group blames UK government’s ‘scandalous’ and ‘inept’ decisions for £31.7m losses
Revolution Bars Group recorded pre-tax losses of £31.7m for their preliminary yearly results, following a tough year for the hospitality industry.
However, the company laid scathing criticisms for its losses on the door-step of the government.
”The UK government’s actions towards wet-led bars and late-night hospitality are nothing short of scandalous. It has little evidence to justify the severe restrictions that have been imposed and it is deliberately sacrificing businesses and people’s livelihoods”, says chief executive offer, Rob Pitcher.
Total revenue for the company in FY20 was £110.1m, this is down from £151.4m in FY19.
The results come on the back of a survey by the Night Time Industries Association, which suggests that three-quarters of UK pubs, bars and casinos could go bust by end of the year.
The hospitality industry has been hit exceptionally hard by Covid, following two national-lockdowns and the government’s Tier system. The government has promised grants of £1,000 for hospitality venues forced the close due to restrictions.
”The recent grants of £1,000 per pub as compensation for being deprived of our most important trading period is derisory and insulting, and underlines a complete lack of understanding of the costs associated with businesses of this nature (even when they are shut) or any sympathy for the consequences of their inept decisions,” Pitcher adds.