Prezzo restaurant

Report: top 100 UK restaurant chains lost £82m in past year

Nearly half of the of the UK’s Top 100 restaurant groups are now loss making, according to accountancy group UHY Hacker Young. New figures published by the firm reveal that the top 100 restaurants made a loss of £82m in the last year, down from a pre-tax profit of £102m twelve months ago. Of the UK’s Top 100 restaurant groups, 48 are now in the red, up from 37 last year. The huge loss in profits has been caused by a number of restaurant chains’ going through radical restructuring in…

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Jamie Oliver

Celebrity chef ‘saddened’ as chain collapses in UK casual dining crisis

Jamie Oliver’s restaurant chains have entered administration, putting up to 1,300 jobs at risk across Jamie’s Italian, Barbecoa and Fifteen. Oliver said he was “saddened” after the group appointed KPMG to handle its administration process, which will affect 25 restaurants, 23 of which are operating under the Jamie’s Italian name. It is expected that KPMG will look for a new buyer for the restaurant group. Oliver said: “I appreciate how difficult this is for everyone affected. I would also like to thank all the customers who have enjoyed and supported…

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