Jamie Oliver’s UK restaurant chain collapses into insolvency
LONDON — Celebrity chef Jamie Oliver’s British restaurant chain filed for bankruptcy protection on Tuesday, 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 U.K. 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. They include restaurants in the Jamie’s Italian chain, as will the more upmarket Fifteen, and steak house Barbecoa.