Celebrity chef Jamie Oliver is considering selling his Barbecoa steakhouse chain of restaurants, his company confirmed, amid reports it is on the "brink of collapse".
But the restaurant's sister site in One New Change, St Paul's will continue trading after Jamie Oliver's restaurant group scrambled together a pre-pack administration deal. However, the second, located near St. Paul's, has been bought back by Oliver under a pre-pack arrangement, which permits a business's best assets to be purchased before it actually enters into administration.
According to records filed at companies house, One New Change Limited was incorporated at the start of this month, and lists only the group's legal counsel Adam Connon as a director.
Barby made a loss of almost half a million pounds (£473,758) in the year to 1 January 2017, according to the company's most recent publicly released figures. Williams told City A.M. that his company made an 11th hour effort to save both restaurants, offering to take on the Barbecoa brand and the two leaseholds.
"I believe there is a future for Barbecoa which appears to be a casualty of the melt-down of the Oliver Empire", he said in a statement.
"As a whole business it has great potential...[Now] it is no longer an interesting proposition and the Piccadilly rent is twice what it should be".
It is a fresh blow to the TV star's restaurant empire, which last week launched a last-ditch rescue plan to stop the Jamie's Italian chain from going under.