Revolution Bars, the struggling pub and bar chain, has announced the appointment of renowned investor Luke Johnson as its new non-executive chairman, a move seen as critical to the company’s ongoing efforts to turn its fortunes around. Johnson, widely recognized for his involvement in successful ventures such as Pizza Express and Gail's Bakery, will take over from Keith Edelman, who steps down after nine years at the helm.

The leadership change comes at a pivotal moment for Revolution Bars, which recently completed a significant restructuring plan. The overhaul saw the closure of around 25 underperforming sites and the company's return to the junior market AIM, all part of a broader strategy to revive profitability.

Johnson, who holds a 20% stake in the business, is no stranger to the hospitality sector, having chaired or founded various companies through his private equity firm Risk Capital Partners. His deep industry experience is expected to play a crucial role in Revolution Bars' next phase of development.

Rob Pitcher, Chief Executive of Revolution Bars, praised Edelman’s leadership during challenging times: "Keith's strong leadership has been invaluable in navigating the group through its IPO, the pandemic, unsolicited takeover offers, and most recently, our fundraise and restructuring plan. We extend our heartfelt thanks for his vision and support over the years."

Looking ahead, Pitcher expressed confidence in Johnson's ability to guide the company towards a brighter future. "We are excited to be working with Luke, whose vast experience in the hospitality sector and wealth of knowledge will be instrumental in driving the group’s recovery and growth."

The appointment comes at a time of mixed fortunes for the UK hospitality sector. A recent report by CGA by NIQ and AlixPartners revealed that while closures have slowed this year—down to an average of four a day in the first quarter of 2024 from eight a day in 2023—the industry still faces challenges. Despite a modest revival in independent restaurants and dining, the sector remains 2.5% down year-on-year, with one in 40 venues closing in the past 12 months.

However, the report hints at a cautious optimism, as the pressures of the cost-of-living crisis begin to ease and consumer confidence gradually returns.

With Johnson at the helm, Revolution Bars hopes to tap into this cautious revival and emerge stronger from its recent struggles, leveraging his expertise to navigate the ever-evolving hospitality landscape.