2024 Author: Jasmine Walkman | [email protected]. Last modified: 2023-12-16 08:29
Chef Jamie Oliver has serious financial problems. The famous chef will close two of his restaurants in London.
The popular chef's two leading restaurants have gone bankrupt. One is a barbecue restaurant on Piccadilly Street, which will close just one year after reopening.
The other is located near the Cathedral of St. Paul. Fortunately, he was rescued after being redeemed for an undisclosed amount through a newly established subsidiary of the chef's company.
Barbecoa St Paul's was bought back under a so-called pre-packaging arrangement. This allows the purchase of the best assets of a business before it is declared bankrupt.
Oliver, although one of the most famous chefs in the world, turned out to be a debtor. According to the documents, he has debts of 71.5 million pounds, which include 2.2 million for staff salaries, 30.2 million from mortgages and loans and 41.3 million owed to landlords, suppliers and other creditors. So far, only £ 47 million of debt has been covered by loans from other companies.
In January 2017, Oliver's chain of restaurants closed the first six Italian restaurants. Last month, Jamie Oliver announced that he was closing 12 of the 37 Italian restaurants. The rescue plan with the creditors will allow him to save only part of his trade.
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