MARKET REPORT: Bar chain drops £40m due to high wages

The Ashton-under-Lyne-based group saw £40.9m wiped off its value after it admitted to being caught out by unexpectedly high staff costs this year.

Cocktail bar group Revolution is likely to be nursing a nasty hangover after its shares dived to an all-time low yesterday.The Ashton-under-Lyne-based group saw £40.9million wiped off its value after it admitted to being caught out by unexpectedly high staff costs this year.It complained about 'well-publicised cost headwinds' such as a double increase to the minimum wage, a new apprenticeship levy, and an above-inflation increase in business taxes.The group also said the five Revolucion De Cu...