Jamie Oliver’s restaurant chain is broke: How the financial Disaster started

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In January 2018, the “Sun” reported that the famous TV-chef Jamie Oliver, pushes a mountain of debt equivalent to 81 million Euro in front of it. The cause is supposed to be his restaurant chain “Jamie’s Italian” which now seems doomed. Oliver has been burned in an entrepreneurial and filed for bankruptcy.

The star chef is one of the financially most successful chefs in the world. His fortune is estimated at the equivalent of 180 million euros. But last year, his restaurant chain “Jamie’s Italian” made negative headlines. A look at the published annual figures for the chain meadows for 2016, a net loss of 9.4 million pounds. The turnover shrank by three percent to nearly 113 million pounds. The debt stood at the Bank HSBC of a total of 31.7 million pounds, to be paid by 2020. The “Frankfurter Allgemeine Zeitung” reported.

Behind the Scenes

Jamie Oliver in the world is the most popular cooking – so he goes with his greatest weakness to be

By Denise Snieguole Wachter “Jamie’s Italian” was already in the red

a planned restructuring that should save the chain, which seems to miss the lungs. Mietnachlässe have been agreed. Accordingly, the Rent should have been reduced by around 30 percent. There was also talk that some Restaurants should be closed.

The Bankruptcy has consequences for the employees. Around 1,300 Employees have to fear the “BBC” according to their jobs. “I am very saddened by this development and would like to thank all of our employees and our suppliers who have worked with heart and soul in the last decade in this business,” said Oliver, in a communication to the company. Founded by the television chef had a restaurant chain in 2008. Most recently he was operating 25 stores in the UK. With steak houses, Oliver was already in a wreck.

sources: “BBC”, “F. A. Z”, “Sun”, “DPA”

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