The firm looking to acquire Revolution Bars Group has hit back at claims its proposals were "incapable of being delivered".
Nightcap had put forward plans to merge with Revolution alongside an effort to raise over £12million in capital and close venues.
However, Revolution said the plan was unrealistic and rejected the move.
This morning, Nightcap confirmed it was no longer interested in Revolution, and hit back at its troubled rival.
"Nightcap respects that the board of Revolution Bars wish to pursue a different outcome and as a result Nightcap today confirms that it does not intend to make an offer for the entire issued and to be issued share capital of Revolution Bars," the firm said in a statement.
It added: "The board of Nightcap believes that with five acquisitions in just over three years it is very well placed to continue executing on its consolidation strategy.
"The board also believes that opportunities for further consolidation in the late night sector will continue to arise in the coming year as the sector moves from incremental M&A activity to a fundamental structural transformation as many of the operators in the sector are going through significant change."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 71-points at 8,183 shortly after opening this morning.
Brent crude oil futures were down 0.36%, trading at $83.13 a barrel.
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