Real figures of Jamie Oliver’s restaurant collapse revealed

1
Jamie’s Italian in Gunwharf Quays in Portsmouth was one of the affected Credit: Wikipedia


  • 77
    Shares

The eye watering figures of Jamie Oliver’s ‘Jamie’s Italian’ restaurant chain have been revealed.

The closure of 22 out of the 23 Italian restaurants has left the chef with losses of around £25million.

In May this year, the company announced that it will be closing the doors to its flagship restaurants, leaving over a thousand staff without employment.

-- Advertisement --

Jamie reportedly used £1million of his own personal funds to pay the wages of the staff that lost their jobs, and used £18million of investment from his personal holding account company, Jamie Oliver Holdings, to inject into the business.

These personal investments were bolstered by creditors including HSBC who put forward a staggering £39.4million in secured loans.

According to reports, he has currently paid the UK bank back a total of £4.7million and has made assurances for the remaining balance.

Jamie will now be focusing on his new chain of healthy deli takeaways situated in international airports around the world, the latest of which opened in Malaga airport this year.

Like
Like Love Haha Wow Sad Angry


Latest News on Euro Weekly News:
Slider


1 COMMENT

  1. Like many other people he doesn’t actually HAVE the money. He relies on a long credit line. It is like saying you own a house worth €2m., when in fact you have a mortgage. The bank OWN it. You are just renting it. The banks and other lenders can pull the plug at any moment.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here