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Jamie Oliver restaurant shut down leads to 1000 job cuts

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The British celebrity chef, Jamie Oliver’s restaurant group has recently filed for bankruptcy protection and appointed KPMG as administrator to oversee the process. Almost 90% of Oliver’s restaurants in the United Kingdom are now closed. The company’s international division remains unaffected.

The financial firm estimated the restaurant chain collapse will result in approximately 1000 redundancies.

“The group had recently undertaken a process to secure additional investment into the business and, since the beginning of this year, Jamie Oliver has made available additional funds of £4m to support the fundraising,” said the administrators in a statement.

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

In 2016, Oliver’s restaurant ran into financial trouble, and in the end, Oliver injected millions from his own savings to revive the struggling business while shutting down about 20 restaurants and pizzerias.

Regarding the news, Oliver tweeted, “I’m devastated that our much-loved UK restaurants have gone into administration. I am deeply saddened by this outcome and would like to thank all of the people who have put their hearts and souls into this business over the years.”

There are currently two branches of Jamie’s Italian in Hong Kong – Tsim Sha Tsui and Causeway Bay.

Oliver is known for his Naked Chef books, TV shows and his campaign for healthier school meals.

Source: BBC



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