Jamie Oliver says he lost £25m trying to save failing restaurant chain

Celebrity chef Jamie Oliver has revealed how he lost £25 million trying, in vain, to shore up his failing restaurant chain.

He says the collapse of Jamie’s Italian Group was the most disappointing experience of his life after he was forced to close 22 restaurants with the loss of more than 1,000 jobs.

The multi-millionaire says he gave the high-street eating chain £25m of his own money but the Jamie’s Italian Group was forced to close the restaurants in May.

“The past few months have been the most disappointing of my life,” he said.

“When it was all going wrong it felt like a colander. The business was full of holes and there was nothing we could do to plug them. At the beginning, when we were setting up the restaurants, no one sat me down and asked if I had a plan B in case it goes down the toilet.

“I have to take full responsibility. I did believe I could turn it around.

“I put in £3m, another £3m, then another £3m. However the money went. But there was no good news.”

The chef blames rising rents, rates and wages for the failure.

It was reported last week that the restaurant collapse had left creditors facing £83m losses. HSBC took the biggest hit at £39.4m.

Despite the turbulence in his business career, the dad of five says he remains devoted to his wife Jools and maintains he could never give up cooking.