56983
Jamie Oliver Restaurant Group Closing 6 UK Outlets
Jamie Oliver Restaurant Group Closing 6 UK Outlets

Jamie Oliver Restaurant Group Closing 6 UK Outlets

Jamie Oliver Restaurant Group Closing 6 UK Outlets

Jamie Oliver has confirmed plans to close six Jamie’s Italian restaurants, with the Brexit vote taking some of the blame.
His company announced that outlets in Aberdeen, Cheltenham, Exeter, Tunbridge Wells and Ludgate and Richmond - both in London - would shut by the end of March.
Its statement suggested trading at the restaurants had also not been up to scratch but it hoped to move the 120 staff affected to other eateries within the group, Sky News reported.
There are currently 70 Jamie’s Italians worldwide. Of these, 42 are in the UK and are likely to have been hit by higher costs for imported ingredients since the EU referendum because of the collapse in the value of the pound.
Simon Blagden, chief executive of Jamie Oliver Restaurant Group, said: “As every restaurant owner knows, this is a tough market and, post-Brexit, the pressures and unknowns have made it even harder.”
He said the business was “in very good shape” overall, but restaurants were expected to serve “an average of 3,000 covers every week to be sustainable.”
The announcement highlights the pressure facing businesses and consumers from rising costs.
British clothes retailer Next is the latest major store to warn of looming price hikes - of up to 5% in its case - because of increased import costs while the RAC pointed to a £10 increase over 12 months in the cost of filling an average tank with diesel.
Consumer price inflation already stands at a two-year high.
The group’s plans to launch another 22 Jamie’s Italian restaurants overseas are going ahead.
The celebrity chef and food campaigner has a net worth of $400 million, according to the latest Sunday Times Rich List.

 

Short URL : https://goo.gl/BLYfHt
  1. https://goo.gl/LSt0gU
  • https://goo.gl/fvoYjF
  • https://goo.gl/cWLc4j
  • https://goo.gl/gswiWE
  • https://goo.gl/TZm3BC

You can also read ...

ECB President Mario Draghi (L) and US fed chair Jerome Powell at the ECB Forum on Central Banking in Sintra, Portugal, June 20.
The world’s most-powerful central bankers warned that...
Consumer prices rose just 0.1% in May, down from a 0.3% gain in April.
Canada’s economy showed unexpected weakness in the second...
Brazil CB Holds Rate Steady
For the second consecutive time, the Central Bank of Brazil...
China Trade Surplus Shrinks
China’s trade surplus shrank markedly in the first five months...
Inflation rate forecast for the full year is averaged around 3.1%.
Saudi Arabia is so intent on changing its identity that today’...
Turkey Sees 22% Yearly Decline in FDI
Turkey attracted some $3.1 billion in net international direct...
Ukraine Shadow Economy Drops to 31% of GDP
Shadow economy in Ukraine dropped by 4% in 2017, to 31% of GDP...
IMF to Lower Eurozone Growth Projections
The International Monetary Fund will downgrade growth...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus