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Jamie’s Italian (UK’s) creditors have “overwhelmingly” agreed to support the terms of a Company Voluntary Arrangement (CVA) restructuring plan — meaning that the process to close at least 12 under performing restaurants can now commence. No timeline has yet been given, but the group stated that it is “looking to redeploy as many staff as possible” elsewhere in the business.
In a statement issued today, the restaurant group said:
“We are pleased to have received the overwhelming support from our creditors for our proposal to reshape Jamie’s Italian restaurants. We have a strong brand and are focused on continuing to deliver the levels of service, taste and the experience our loyal customers deserve.
“We are working hard to ensure that our estate is fit for the current trading environment and we feel confident that this newly shaped business will provide strong opportunities for growth and profitability.”
The agreement follows the announcement of the closures of Jamie’s Italian sites across the UK, as well as in Greenwich, Kingston, Piccadilly (under the Diner brand) and Threadneedle Street, in London. MCA reports that the company is also seeking a 30 per cent reduction in rent at eight other “marginal” sites.
Regarding the staff affected by the closures, a spokesperson for Jamie Oliver Restaurant Group told Eater: “We are in the consultation period with affected staff which lasts 45 days.”