Jamie Oliver who gained celebrity status on television as the Naked Chef over a decade ago and who formed the Jamie Oliver Restaurant Group that oversees all of the famous chef’s restaurants in the UK and around the world declared bankruptcy for his UK restaurants or in English terms have have been put into ‘administration’ which is a form of bankruptcy protection there.
Over a 1,000 employees will be laid-off and 22 of Jamie’s 25 restaurants in the UK will close. KMPG which stands for Klynveld Peat Marwick Goerdeler.a Dutch based company that deals in financial audit, tax, and advisory services is handling the administration of the business for its creditors.
Oliver’s restaurant group grew to include the following restaurant brands: Jamie’s Italian, Jamie Oliver’s Diner and the Barbecoa steakhouses.
Of the three restaurants in the UK that will remain open indefinitely for now will be two of Jamie’s Italian restaurants and a Jamie’s Diner at the Gatwick Airport.
Oliver’s business empire grew out of his television series with the establishment of his restaurants in the UK and internationally but also with his cookbooks and other TV programs. Adding to his business growth also came from fame in the campaign for healthier food in school lunch programs and in the US he did a series to change the eating habits of citizens of one east coast city. Oliver’s empire also expanded to advertising for supermarkets, providing deli foods for Shell service stations in Britain, pizzerias and expanding his restaurants overseas.
Oliver’s restaurants ran into trouble in 2016 due to the incredible competitive middle-market casual dining venue, rising costs and fragile consumer confidence. He put in millions of his own money back into his restaurants at that time and even more late last year. At least $5 million more to make his restaurants more attractive as his group began to look for buyers.
But it has been a struggle amid the competition which has also affected other restaurant chains in the Italian food and hamburger sectors such as Prezzo which closed at least 100 of its restaurants a year ago and the Byron burger chain which closed 20 0f its stores.
Besides the three restaurants that will remain open, Oliver’s international chains of restaurants and its restaurant, Fifteen Cornwall, which trains apprentice chefs in the southwest part of England and run by a foundation will remain untouched and open.