Jamie Oliver continues to count the cost of his failure with Jamie’s Italian.
The celebrity chef pumped millions into the business before it collapsed in May 2019, including £2.6m to cover wages and the cost of administration, as well as £6.7m of loans.
The demise of the chain halved profits at Oliver’s holding company, which handles his TV rights, books and endorsements. It posted pre-tax profits of £4.1m on sales of £30m in 2019, according to newly filed accounts. In the previous year, profits were £8.8m on sales of £28.8m.
Oliver, 45, and wife Jools, 46, banked a £2m payday from Jamie Oliver Holdings in 2018, but did not take a dividend in the latest year.
Jamie’s Italian went into administration in May 2019, with
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January 03, 2021 at 07:01AM
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Jamie's Italian leaves bitter taste for Oliver | Business | The Sunday Times - The Times
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