Chef Jamie Oliver’s money-losing steakhouse chain may be going up in flames, as 80 staff lose jobs
Jamie Oliver’s upmarket Barbecoa steakhouses in London have crashed into administration, with 80 staff losing their jobs at the group’s Piccadilly site.
The celebrity chef’s company scrambled together a last-minute deal to save the group’s other outlet – located near St Paul’s Cathedral – with a newly created subsidiary in Oliver’s business empire buying the City diner straight out of administration for an undisclosed sum.
The move comes during a tricky period in Oliver’s business dealings. Oliver had to pump £3 million (US$4.2 million) of his own cash into his Jamie’s Italian chain in December and is now planning to close 12 of its 37 UK branches.
A spokesperson for Oliver said: “We can confirm that Barby Limited has been placed into administration. One New Change Limited, a wholly owned subsidiary of Jamie Oliver Restaurant Group, has purchased the assets and lease of Barbecoa St Paul’s and will be trading as normal.” One New Change Limited was set up less than three weeks ago.
In its last publicly released figures, Barby made a loss of £473,758 in the year to January 1, 2017. Over the previous 12 months it had made a £246,927 profit.