Trading at bar operator, Inventive Leisure, has continued to be difficult since a preliminary announcement from the company on 13 October.

Sales at the group’s Revolution bars were up by 28 per cent in the first quarter of the financial year but revenues on a like for like basis were down 8.5 per cent on the same period last year.

It was hoped that the downturn was due to the hot summer and that an upturn would follow with cooler weather and students returning to universities. However, this has not happened and like for like sales have remained down by the same amount.

The company said: “We are currently behind expectations and whilst there are further opportunities for corrective action, unless like for like sales improve we believe the result for the year will be ahead of last year but significantly behind current market expectations.”

Moves being taken to address the situation include plans to improve trading at the worst performing sites, new sales and marketing initiatives and the implementation of a series of cost cutting measures.

A further trading update will be given at the company’s AGM on 3 December. Details: www.revolution-bars.co.uk