Tuesday, 16 October, 2018

Jamie Oliver restaurant group considers selling Barbecoa chain

Jamie Oliver's world-renowned restaurant chain is facing troubled times after it was revealed the company had cooked up more than $125 million in debts Jamie Oliver restaurant group considers selling Barbecoa chain
Russell Knight | 21 February, 2018, 16:54

The other outlet, near St Paul's Cathedral, has been saved after the chef bought it for an undisclosed sum via a newly-created subsidiary.

Jamie Oliver has put his Barbecoa restaurants up for sale, as his food empire struggles with falling bookings and rising costs.

A spokesman for the Jamie Oliver group said that the group has instructed a firm of real estate experts to ascertain the potential value and market suitability of the two Barbecoa sites.

Barbecoa now only has two outlets in London, but employs 160 staff and its site at Piccadilly was relaunched only 12 months ago in February 2017.

Mr Oliver relaunched the Piccadilly branch of Barbecoa in February 2017.

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Last month the TV chef said he planned to close 12 of the 37 branches of his Jamie's Italian chain.

It was revealed via court documents that Jamie's Italian had amassed debts of £71.5 million, with £47 million of these debts being covered by loans from HSBC Bank and other companies owned by Oliver.

Celebrity chef Jamie Oliver is reportedly considering selling the steak restaurant business he started in 2011, as part of an ongoing restructuring process that also involves the well-known Jamie's Italian chain of restaurants.

In January, burger chain Byron announced that it too had entered into a company voluntary arrangement, which would mean that up to 20 Byron burger restaurants would need to close.

"They are all competing against each other and other forms of entertainment".

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