Tuesday, 18 June, 2019

Jamie Oliver's restaurant group calls in administrators

Jamie Oliver Jamie Oliver's restaurant empire set for administration with 1,300 jobs at risk
Lora Ball | 21 May, 2019, 20:25

The administration, a form of creditor protection, also affects Barbecoa, a steakhouse, and Fifteen London - Oliver's first restaurant which he founded in 2002, a social enterprise created to train young unemployed people.

Celebrity chef Jamie Oliver's British restaurant chain has become insolvent, putting 1,300 jobs at risk.

Oliver's Fifteen London and remaining Barbecoa sites are also expected to be included in the process.

"However, with no suitable investment forthcoming and in light of the very hard current trading environment, the directors resolved to appoint administrators".

Fifteen Cornwall is fine, as it's a franchise.

"I really, really enjoy serving people, but it's a unusual time at the moment, and all the casual dining and high street restaurants are in decline".

Twenty-three of those outlets are from the Jamie's Italian chain. "And we did exactly that".

According to BBC, Oliver's global franchise business will continue operating as usual. "As ever, it is the workers at the restaurant and in the supply chain who bear the heavy cost of boardroom decisions".

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His "Naked Chef" show, which was broadcast in dozens of countries, made him a household name at the age of 21.

He used his reputation to put pressure on politicians to combat growing child obesity problems by campaigning for healthier school meals.

It comes just weeks after High Street giant Debenhams entered administration, last month.

This controversial plan allows struggling business to restruture debts and shut stores in a desperate bid to stay afloat.

Cau has disappeared, with its parent Gaucho being restructured, and other chains, including Prezzo and Carluccio's have also been forced into widespread outlet closures.

According to The Guardian, the latest news comes after the Jamie's Italian sales took a dive by almost 11 per cent past year to £101 million (around $172 millionCAD).

Simon Mydlowski, a partner at Yorkshire law firm Gordons and an expert on the hospitality industry, said Jamie's is the latest brand that has failed to keep pace in a rapidly changing sector where a business needs to keep evolving.

In December of that year the chef also put £3m of his own money into his restaurant businesses. Rising food prices, increasing rents and competition took a toll.

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