After a tricky few years, the British chef's restaurants succumb to challenging market conditions
Jamie Oliver’s restaurant chain has fallen into adminstration. The British chef’s group is the latest in a long line of mid-market establishments that have suffered from a perfect storm of higher labour costs, higher business rates and increased food costs.
This news affects 23 branches of Jamie’s Italian as well as grill restaurant Barbecoa and the Fifteen outlet in London and a diner-style restaurant in London Gatwick airport. Administrators KPMG estimates the closures will result in more than 1,000 job losses.
“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,” Oliver said on Twitter.
Oliver’s restaurants have been in trouble for a while; in 2017 the chef injected £12.6m from his own money while the business was restructured and last year several Jamie’s Italian sites were closed.
He is far from the only casual dining operator to have suffered in adverse conditions; in recent years other chains including Byron Burgers and Gaucho have closed sites and impemented structural changes.
According to Deloitte, in the last year alone 80 bar, restaurant and hotel businesses went into administration in England and Wales.
Jamie Oliver’s Fifteen Restaurant in Cornwall and the overseas franchised branches of Jamie’s Italian are unaffected by this development.