Jamie Oliver puts Barbecoa restaurants on the market

By Sophie Witts contact

- Last updated on GMT

Jamie Oliver puts Barbecoa restaurants on the market

Related tags: Jamie oliver group, Milton keynes, Restaurant, Restaurant group

The Jamie Oliver Restaurant Group has put its two Barbecoa steakhouses up for sale after creditors voted in favour of restructuring plans.

The two sites at London’s Piccadilly and the One New Change development in St Paul’s have been put on the market.

Property adviser Christie & Co is marketing the 250+ cover locations on long leases, with offers now being invited.

The group is also understood to have pulled out of opening a third Barbecoa site, at Nova Victoria, last year.

A spokesperson for the Jamie Oliver Group said: "As part of our ongoing and comprehensive review of the Restaurant Group and its operations, we have instructed a firm of real estate experts to ascertain the potential value and market suitability of two of our sites.”

It comes after the group’s creditors voted overwhelmingly in support of a Company Voluntary Agreement (CVA) on 9 February, which could see at least 12 of its 37 Jamie’s Italian restaurants close.

Under the terms of the CVA the group has already agreed to shut Jamie’s Italian sites​ in Bath, Bristol, Bluewater, Chelmsford, Greenwich, Harrogate, Kingston, Milton Keynes, Piccadilly, Reading, St Albans and Threadneedle Street.

It is also seeking a 30% cut in rent at eight further marginal sites.

In a statement, the company 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 original Barbecoa opened in St Paul’s in 2010, and a second launched in Piccadilly​ in 2017.

Related topics: Business, Restaurants, Venues

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