(Bloomberg) -- British bar operator Nightcap Plc is considering making a takeover offer for Revolution Bars Group Plc, a rival chain undergoing a restructuring.

London-based Nightcap, which runs The Cocktail Club and Dirty Martini among its 46 bars in the UK, would also be interested in buying some of Revolution Bars’s brands or assets, it said in a statement. 

Revolution Bars shares jumped 14%. The chain’s market value, which peaked at £117 million ($146 million) in 2017, has dwindled to £3.8 million.

Last month, Revolution Bars started a restructuring, a £12.5 million share sale and a formal sale process, saying a worsening economy has disproportionately hit its young customers. It said in a statement that an “exploratory” meeting was held with Nightcap outside of the formal sale process.

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