Article Date 22/05/2019

Image from : CBC

Celebrity chef Jamie Oliver's U.K. restaurant chain collapses into insolvency

Source CBC News

Celebrity chef Jamie Oliver's British restaurant chain filed for bankruptcy protection on Tuesday, partly due to increased competition and escalating rents in local commercial districts.

The insolvency put 1,300 jobs at risk and reignited worries about local retail and food outlets in Britain, which are struggling to attract customers, much like downtowns in the United States.

The Jamie Oliver Group said Tuesday it had gone into administration, a form of bankruptcy protection, and appointed KPMG to oversee the process

."I'm devastated that our much-loved UK restaurants have gone into administration," the British chef wrote on Twitter.

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