Future of chains' pubs in Warwick, Leamington and Kenilworth has been decided - and there's one closure
The future for a chain of pubs that has sites in Warwick, Leamington and Kenilworth has been decided after the company declared an intention to enter administration – and there’s been one casualty.
Revel Collective - which trades under the names Revolution, Revolución de Cuba and Peach Pubs - announced on Monday January 26 it would be filing “a notice of intention to appoint administrators”.
The administration notice came after the company’s board had been trying to find buyers.
Peach Pubs operates several venues across the UK – and in south Warwickshire it is responsible for The Rose and Crown in Warwick, The Star and Garter in Leamington, The Almanack in Kenilworth, The White Lion in Radford Semele and The One Elm in Stratford.
On Tuesday January 27, the company announced administrators had been appointed and immediately parts of the business had been sold.
For the sale, the company’s businesses were split with Revolution, Revolucion de Cuba and Founders & Co going to Neos Holdco Limited (trading as Neos Hospitality) and Peach pubs going to a newly formed group called the Coral Pub Company.
However, this did also mean not every business in the company’s portfolio was kept and it led to 21 venues across the country closing – including one in south Warwickshire.
The only pub to close under the Peach Pubs name was the Almanack in Kenilworth.
In the company’s notice, it said: “The transactions secure the continuation of 20 Revolution, Revolucion de Cuba and Founders & Co bars and 21 Peach pubs and protect 1,582 jobs across the sites and central support function.
“Regrettably 14 Revolution, six Revolucion de Cuba and one Peach site did not form part of the transaction and those sites are being closed with immediate effect impacting 591 employees.
“As a consequence of the above, the Formal Sale Process has been terminated, and the Company has ceased to be in an "offer period" as defined in the Takeover Code.”
On Tuesday evening, a message was posted by Peach Pubs regarding the Almanack. It said: “You may have spotted some recent news around Peach Pubs and your favourite local. We want to share a message from us to let you know that we are now permanently closed.
“Thank you for a truly Peachy few years, it has been a privilege to welcome you through our doors and share so many memorable moments together.
“For our sister pubs, it’s business as usual; seasonal menus, serving native produce, and a warm welcome that makes a trip to the pub worthwhile.”
Similar messages were shared by Peach Pubs for its other sites across south Warwickshire explaining the closure of the Kenilworth pub but to also reiterate that the remaining pubs under the Peach Pubs umbrella will continue as normal.
A message posted on Warwick’s The Rose and Crown social media pages said: “We’re stepping into the next chapter led by our peachy people, the same love for the good stuff, and still dedicated to good old-fashioned hospitality.”
It added: “For us and our sister pubs, it’s very much business as usual… seasonal menus, serving native produce, and a warm welcome that makes a trip to your local worthwhile. The good stuff continues.”