Jamie rakes in £87k a day despite 1,000 staff losing their jobs at his diner chain
Steph Spyro
JAMIE Oliver has earned £87,000 a day despite his restaurant chain going bust last year, owing £83million.
The TV chef’s Jamie’s Italian business collapsed into administration, which resulted in 1,000 job losses.
But Jamie, 44, is still valued at £100million because of his book sales and TV deals.
His company Jamie Oliver Holdings Ltd is a separate entity from the failed chains and turned over £31.3million in 2018.
Nearly £8.8million of that was profit, which was up £5.6million from the year before.
And the figures showed he earned £24.8million from “royalties, endorsements and licensing income”.
The company paid out close to £9million in wages and £2million went towards taxes.The chain was reduced from 25 restaurants to three in May 2019.
It is believed that Jamie paid at least £13million to save the restaurants.At the time, his furious staff were pictured in tears outside branches after turning up to work only to find the premises shut.
Jamie said he was “deeply saddened” by the failed venture and thanked his staff and suppliers for putting “their hearts and souls into this business for over a decade”.
Talking about the collapse, Jamie said: “We had simply run out of cash. And we hadn’t expected it.
“That is just not normal.We’re still trying to work it out, but I think that the senior management were trying to manage what they would call the perfect storm: rents, rates, the high street declining, food costs, Brexit, increase in the minimum wage.There was a lot going on.”