Published: Tue, April 17, 2018
Finance | By Claude Patterson

Jamie Oliver sells off Australian restaurants

Jamie Oliver sells off Australian restaurants

Oliver has had to put £3m of his own money into the company, as well as closing 12 United Kingdom restaurants in order to keep trading.

Celebrity chef Jamie Oliver took control of his Australian holdings a little over 12 months ago, buying his six Jamie's Italian restaurants from the receivers of the failed Keystone Group, but since then, Oliver's United Kingdom interests have run into trouble.

In light of the administration, the Canberra Jamie's Italian site was shut immediately yesterday, Business Insider reports.

A spokesperson for the Jamie Oliver Group confirmed the sites were sold to Hallmark through voluntary administration.

In a statement via social media the Canberra restaurant said: "This is pretty sad news for the staff but Jamie's Italian has closed suddenly this morning and it looks like it won't be reopening anytime soon".

In March, the chief executive of the United Kingdom business said the company had struggled because it had "rested on its laurels" as more quick service retail businesses entered the British market.

The move comes just weeks after Oliver's Barbecoa went into administration.

They also announced that Brisbane-based Hallmark Group would take over operating the Australian franchise of the Italian chain. Oliver's businesses have been struggling to restructure their way out of debts of £71.5 million ($126 million).

"I've had to man up and make a big decision", he told the paper. "We have got a great business, and we will bounce back".

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