Jamie Oliver ‘devastated’ as his empire collapses into insolvency, forcing 22 UK restaurants to close
- The celebrity chef had tried to revive his restaurant business for the past few years amid a tough consumer market, intense competition and rising costs
- The company’s international division meanwhile remains unaffected by the UK collapse
Celebrity chef Jamie Oliver’s British restaurant chain has filed for bankruptcy protection, partly due to increased competition and escalating rents in local commercial districts.
The insolvency will leave 1,000 people out of work and reignited worries about local retail and food outlets in Britain, which are struggling to attract customers much like downtowns in the United States.
“I’m devastated that our much-loved UK restaurants have gone into administration,” Oliver wrote on Twitter.
“I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business over the years.”
Financial firm KPMG, which will oversee the process, said all but three of the group’s 25 eateries will close.