Jamie Oliver won’t pump any more of his own cash into restaurant business

Jamie Oliver

Jamie Oliver has indicated that he is not prepared to put anymore of his own money into keeping his restaurant business afloat.

The TV chef injected nearly £13m of his own cash into the operation after his Jamie’s Italian chain suffered financial troubles last year and closed a number of stores.

Mr Oliver said that, if he could, he would have no hesitation doing the same again should the circumstances call for it, but the reality was that it was not possible.

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He told the Mail on Sunday: “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.”

Mr Oliver 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 at the expense of other parts of his empire.

He runs a successful media and publishing operation that is understood to employ more than 150 people.

Jamie’s Italian had to close 12 sites after getting into financial difficulties last year.

A spokesperson for Jamie Oliver told newspaper Metro this morning: “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.”



Tags : Jamie OliverJamie Oliver Restaurant GroupJamie’s Italian
Andrew Seymour

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