TV Chef Jamie Oliver has run out of money to keep Restaurants from bankruptcy

- 10/29/2018

Popular TV chef Jamie Oliver has had a difficult year. And recently his cash problems just got worse. The Restaurateur has said he has nothing left to inject into his troubled business. This was after he injected £12.7 million of his own money into the failing business. 
TV Chef Jamie Oliver

Although the 43-year-old said that, if he could, he would do the same thing again in case he came across some financial hurdles in the future, but it’s not possible. Speaking to the Mail on Sunday, he revealed:
 ‘I haven’t got any more [money]. ‘There’s a point where I can’t put the other side of the business at risk as well and the people who work there.’ The father-of-five said he ‘was not broke’ and he was ‘getting on top of things’, but didn’t have the necessary money from his own pocket to put into his restaurant chain. He added: ‘There’s a point where I can’t put the other side of the business at risk as well and the people who work there.’

In particular, Jamie’s Italian, which opened its first restaurant back in 2008, is now jammed with huge debts of £71.5million recently.
Chef Jamie Oliver Restaurants

Jamie Oliver who employs hundreds of workers was considering, closing 12 sites and more than 600 people would be put out of jobs. A spokesperson for Jamie Oliver told Metro UK.

 The optimistic Chef, explained their plan to stay afloat. ‘We have a robust and strong growth strategy in place for our UK restaurant group and together with the support of the bank and the management team look forward to a positive future.’

 Jamie who has a reported net worth of £240 million, largely due to his bestselling cookbooks and amazing restaurants says his personal funds can no longer save his restaurants.

Good and bad news in the pipelines. The news comes after Jamie described the last 18 months ‘as challenging’ but revealed he is planning to renew his vows to wife Jools in time for their 20th anniversary. 

Hopefully, the struggling chef will be able to pull a miracle rabbit out of his hat, or pot and turn around his failing restaurant chain.

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