The recipe for bankrupt by Jamie Oliver


If you do not know who Jamie Oliver is, you know nothing about kitchen and recipes. However, for the ones who do not know who’s he, Oliver is the most famous chef in the history. He’s from English origin and even nowadays he’s still one of the most famous and most important people on the island. But it seems like lately he is facing some big financial problems. The latest news inform that his chain of restaurants on the island has pronounced bankruptcy. The sad thing is that the Oliver’s empire has started to break down as if it was a tower of cards.

He used to own as much as twenty two luxury restaurants. At the day of today all of them are already closed for the public. The worst part comes after the news that even a thousand of people, staff from the restaurants, are being fired and let with no job, even though they were promised to be paid for the suffering, just like the legal requirements claim.


Only two of his restaurants and the one at the Gatwick airport are still open. It is a question of time until when. But there is a light at the end of the tunnel. The restaurants he owns, placed outside of the United Kingdom, are still open. The reason why they survived is that they work on another principle, unlike the ones placed in his home country.

Jamie Oliver has announced on Tweeter that he’s sorry for the people who lost their jobs because of the bankrupt of his restaurants. He’s sad because all his effort and dedication are suddenly gone. He expressed and showed gratefulness for their unlimited effort in order to save this bankrupt, however, it ended up being too strong to save it.

It seems like the only way to save the restaurants and keep with this is to find an investor who would like to buy the business and keep it open for future work. However, this is less likely to happen because the whole chain of restaurants have a huge depth. The depth reaches an amount of 71 million pounds. At the beginning of this year Jamie invested only four millions in order to restart the business, having hope everything will follow the plan. This idea has been in vain because the losses are even bigger than the previously predicted.


But there are experts who claim that this is not something unexpectable, even though at the beginning everyone was wondering what’s going wrong. When he opened his first Italian restaurant in 2008 he offered only high quality products as well as service. What’s wrong is that he did not bare in mind the difference between the service, the quality of the service and products, the expenses and the prices of the menu. On the top of this, the prices remained unchanged even after they’ve seen that they are going in a deep loss.

So what’s his recipe for a bankrupt? Offering high quality service and products in a restaurant with mid class prices of the menu. The wrong location of the restaurants is another failure. They were located in neighborhoods where the local people could afford themselves a normal but not too expensive meal.

To conclude, his will to work and show his passion to his clients was stronger than his will to earn money, therefore he did a wrong mathematics and closed the doors of his business for everyone no matter how good he was.