One of his flagship restaurants closed after falling into administration, and the Jamies Italian division closed outlets in a bid to stem heavy losses.
The UK Jamies Italian business was a sea of red ink, and Oliver had begged landlords of his underperforming restaurants to cut rents in an attempt to stop the chain going bust, according to The Sun on Sunday.
Loading
The most recent financials revealed pre-tax loss of £9.9 million ($17.5 million) on revenue of £112 million in 2016. Sales were down 3 per cent. The UK business entered into a Company Voluntary Arrangement (CVA) believing it can trade out of its troubles.
In late February, Business Insider asked Ben Shaughnessy, chief operating officer of the Australian Jamies Italian chain, to c…
Read the full article at: https://www.smh.com.au/business/companies/jamie-oliver-s-australian-restaurant-group-collapses-20180417-p4za0d.html