Jamie Oliver’s restaurant business is to post a loss of almost £20 million last year.
After a difficult year, Oliver had to close a dozen outlets in February as well as inject £13 million into the restaurants to keep them afloat.
The company said it had suffered from the “ongoing challenges of the casual dining sector,” which have led to closures in chains such as Carluccio’s and Byron.
Paul Hunt, the chief executive of Jamie Oliver Group, said: “The success of our media business, driven by the stellar performance of 5 Ingredients, Quick & Easy Food, was fundamental to our ability to support the restaurant business and ensure its continuity.”
“With a reshaped restaurant estate, a new management team, and a focused investment plan backed by HSBC, we are making steady headway in a challenging market.”
The chef recently announced plans to become the face of Tesco in a partnership that is aimed at promoting healthier options for shoppers. This is seven years after his deal with Sainsbury’s came to an end.
Alessandra Bellini, chief customer officer for Tesco, said: “Jamie’s passion and skill to inspire a nation to cook, coupled with our experience and reach in providing millions of customers and colleagues with healthy, quality, affordable ingredients will be a great combination to help people take simple steps to leading healthier lives. This is a natural step in our ongoing work to make healthier eating a little easier.
“Tesco will have its third health event in store this month and we are excited to have Jamie fronting up the helpful little swaps encouraging customers to buy products lower in fat, salt and sugar, as well as tasty, healthy recipes to try.”
Oliver recently admitted to having lost £90 million of his wealth since 2014.
