TV chef Jamie Oliver admits he has ‘no more money’ to prop up his struggling chain of Italian restaurants after injecting £13million of his own savings
- The Jamie’s Italian chain teetered on the edge of bankruptcy last year
- Jamie said he has no more money to inject into restaurant chain
- The restaurants opened in 2008 and have struggled with debts of £71.5million
Jamie Oliver has said he has no more money to prop up his Italian restaurant chain.
The Jamie’s Italian chain teetered on the edge of bankruptcy last year before the chef injected £12.7million of his savings into the business.
Asked if he would do the same again in the event of more financial difficulties, Oliver, 43, said: ‘I haven’t got any more [money].
Jamie Oliver (pictured with wife Jools Oliver) has said he has no more money to prop up his Italian restaurant chain
‘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 upside is I am now fully in control of the restaurant business. We’re getting on top of it.’
Jamie’s Italian, which opened its first restaurant in 2008, was struggling with debts of £71.5million. Earlier this year the chain said it would close 12 sites. More than 600 people lost their jobs.
The Jamie’s Italian chain teetered on the edge of bankruptcy last year before the chef injected £12.7million of his savings into the business