TODAY’S BLOG

TOO MANY COOKS

We have all heard the phrase – “too many cooks spoil the broth” well, I’m not sure it quite applies, but any assessment of the high street restaurant business will likely suggest that there are far too many restaurants. Rather sadly Jamie Oliver’s restaurant empire has had to call in the administrators. The business has been in difficulty for a while and it seems that the sword of Damocles has now fallen.

I’m rather sad about this news. I know he’s not everyone’s cup of tea, but to me, Jamie Oliver always seemed like an honest, decent man, trying to make good and trying to change the lives of his staff, young people and to a greater or lesser extent the eating habits of the UK. I’ve enjoyed dining in many of his restaurants and had some special occasions at Fifteen in London and Cornwall.

JAMIE OLIVER GROUP SOLOMONS IFA BLOG

What’s on the menu?

The administrators will now attempt to salvage the business, though the restaurant business is particularly fickle with diners generally leaving once there are signs of trouble. It isn’t possible to tell if the business was run well or not, whether it was a sign of the times or over ambitious. We all know that Jamie’s culinary skills are rather good, and his brand is everywhere – or at least wherever cookery books and items are for sale. His fame and subsequent fortune all resulted from the initial “Naked Chef” series.

Running any business can be stressful at times, or even constantly. Running a large restaurant empire where control can quickly evaporate, is a stress that I certainly would not wish to take on. There are very few people that could. Jamie Oliver made a very good go of things, opening Fifteen, his first restaurant in 2002. He is only 44 and it has been an incredible 17 years. Many entrepreneurs can withstand major setbacks, but not all. I do hope that he manages to reflect on his accomplishments rather than the final “failure” once the last orders have finally been taken.

Sadly, lots of jobs are at risk, let’s hope that the administrators can get things back into shape. The Jamie Oliver Restaurant Group Ltd operates 25 restaurants across the UK, including 22 under Jamie’s Italian brand, in addition to Jamie Oliver’s Diner at Gatwick Airport, Barbecoa and Fifteen London.

Bookings at the Jamie Oliver Cookery school have been cancelled, gift vouchers for cookery school or restaurants and Groupon vouchers are being reviewed by the administrators, but in short, it doesn’t look good if you do and the use by date may become rather irrelevant. I for one hope that they manage to turn this around and that Jamie continues his relentless mission to help us all eat better. He has been a genuine inspiration to hundreds of jobless young people starting with his Fifteen restaurant in 2002. I wish him well.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

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GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Bakery, 2D Edna Road, Raynes Park, London, SW20 8BT

info@solomonsifa.co.uk    Call – 020 8542 8084

SOLOMON’S FINANCIAL PLANNING APP

Our free powerful new Finance & Tax app.
To get started download and use password – solomons

   

WHAT WE’RE ALL ABOUT

If you would like a no-nonsense one page document explaining what financial planning is all about please enter your email here.

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