The chain, which also owns Revolucion de Cuba, is looking at 'all the strategic options available' after facing 'a period of external challenges'.
Shares in the business dropped by as much as 57 per cent as markets openedRevolution Bars is considering putting itself up for sale and is looking to close a quarter of its venues in a move that could threaten hundreds of jobs.
In January, the business slashed its annual outlook, saying that its younger customers were being disproportionately hit by the soaring cost-of-living. Advertisement The company also said it is engaged with 'key shareholders and other investors' about raising cash. One of those is Luke Johnson, the businessman and former chairman of Pizza Express and the owner of Patisserie Valerie.
As a Grammar-school educated man, Johnson began his career at 18 when he was studying at Oxford as a medical student.The business expanded from 12 restaurants to over 200 before they sold it on in 1999.
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