Jamie Oliver still rakes in £86K a day after his Jamie's Italian restaurant chain went bust with the loss of 1,000 jobs

TV chef Jamie Oliver is still raking in £86,000 a day despite his Jamie Italian’s restaurant chain going bust with the loss of 1,000 jobs.

The popular celebrity cook, 44, is worth around £100million thanks to a long TV career and sales of his much-loved books.

However, last year he saw his restaurant go under after suffering debts of £83million – with 1,000 staff losing their jobs.

According to Companies House, his company Jamie Oliver Holdings Ltd – separate from his failed restaurant – turned over £31.3million in 2018.

The huge figure means his company turned over £86,000 a day.

He enjoyed a profit of £8.5million that year – up £2.2million from the previous year.


Of the £31.3m profit, 24.8million was due to “royalties, endorsements and licensing income”.

More than £6million came in from “production income”, while £200,000 was down to "magazine publishing”.

Figures also show the director took home £1.9million – £50,000 up from the previous year in 2017.

Almost £9million was paid out in wages, while £1.8million went to the taxman.

Jamie's restaurant chain filed for bankruptcy protection, partly due to increased competition and escalating rents in local commercial districts.

At the time his furious staff lashed out and were pictured tearfully waiting outside branches after turning up to work and finding the restaurants closed.


They claim they were sacked by conference call just 30 minutes before the announcement that Jamie's Italian Limited – which includes 23 Jamie's Italian branches and the Fifteen and Barbecoa restaurants – had appointed administrators.

The TV chef reportedly pumped £13million of his own money into the chain to try and save it.

The dad-of-five opened his first Jamie's Italian in 2008 and saw rapid expansion across the UK in the early 2010s.

But in 2018, it was revealed that the Essex-born star's firm owed staff £2.2m and was in £71.5million of debt.

At the time Jamie tweeted: "I'm devastated that our much-loved U.K. restaurants have gone into administration.

"I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business over the years."

Source: Read Full Article