Twenty-two of Oliver's twenty-five restaurants will close and roughly 1,000 employees will lose their jobs years after the restaurant chain began struggling financially. On Tuesday, May 21, 2019, the restaurants were put into administration, a form of bankruptcy protection that allows insolvent entities to continue running their business and is often a precursor to liquidation under English insolvency laws.
The celebrity chef’s businesses are not the only ones struggling, and the New York Times reports that other brands serving Italian food and hamburgers in the UK face over saturated markets. While some businesses are able to restructure their business models, others are less fortunate and look to bankruptcy protections like administration to protect their businesses and investments.
Jamie Oliver’s U.K. Restaurants Declare Bankruptcy
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