Jamie Oliver set for another hit with Barbecoa ‘on brink of collapse'

by XPRESS, 19 February 2018

The management is understood to be having one last attempt to save the chain this week, with 160 jobs at stake.

Last week, property agent Christie & Co confirmed it was engaged in finding buyers for the leases on the chain's two sites.

But sources told City AM the brand was having trouble finding takers for the expensive venues.

The restaurants, at One New Change near St Paul's and in Piccadilly, are understood to have a rent of more than £1m per year between them.

A third restaurant had been planned for Victoria, but this has now been scrapped.

If the rescue attempt is unsuccessful, the brand, which is part of the Oliver's restaurant empire but separate to Jamie's Italian, could enter administration as soon as this week.

It is thought that some senior staff at Barbecoa have even begun looking for alternative employment.

Jamie Oliver Group confirmed it had instructed real estate experts to ascertain "potential value and market suitability of two of our sites" but declined to comment further.

It comes as Jamie's Italian agreed to close 13 sites as part of a Company Voluntary Arrangement (CVA), resulting in the loss of 450 jobs.

It previously closed six restaurants, citing the impact of Brexit.

Article Credit: Propel info