Jamie Oliver's restaurant group, Jamie's Italian — long troubled — has gone into bankruptcy administration.
Jamie Oliver's net worth is about $305 million, according to Spear's, but he couldn't keep the company afloat — even after spending $17 million of his on money to save the group from bankruptcy last year, when it was about "two hours" from meeting the fate. He put in another $5 million earlier this year.
Jamie's Italian — which includes the Jamie's Italian chain, Barbecoa, and Fifteen — has appointed KPMG as administrator, according to the BBC. And 22 of the 25 restaurants in the group have now closed, for a loss of about 1,000 jobs. Two Jamie's Italian restaurants and Jamie Oliver's Diner at Gatwick Airport remain open for business while the administrators work out their future.
In light of the news, Oliver tweeted: "I’m devastated that our much-loved UK restaurants have gone into administration. I am deeply saddened by this outcome and would like to thank all of the people who have put their hearts and souls into this business over the years. Jamie Oliver"
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