Gaucho & M Restaurants CEO reaches out to Jamie Oliver's employees
The company is offering to fast track to final interview to all those whose jobs are at risk.
The announcement comes following the news that Jamie Oliver’s restaurant group has appointed KPMG as administrators, affecting 25 restaurants and at least 1,000 jobs.
“With every administration comes a devastating amount of job losses. We recognise the skill and determination that those working for the group have and I believe many of these individuals, (who we consider as friends) will be a fantastic fit for Gaucho and M Restaurants,” he said in an announcement.
Gaucho itself exited administration last September, when it was acquired by an entity owned by Investec plc and SC Lowy. The entity renamed itself Rare Restaurants when it acquired M Restaurants last April.
Casual dining sector a “survival of the fittest”
Commenting on Jamie Oliver’s restaurant group entering administration, CGA and AlixPartner's latest Market Growth Monitor noted that pace of restaurant closures has accelerated in the first quarter of 2019.
“It is little surprise to find that high streets are bearing the brunt of closures. Group restaurants here fell by 2.4% in the 12 months to March 2019, in sharp contrast to net openings of 1.8% in suburban areas. And the Italian sector has been a notable casualty: its group restaurant numbers have tumbled by 84 in the last 12 months, following moves by several firms to close swathes of under-performing sites,” CGA director Karl Chessell said.
“These latest figures are a reminder that the casual dining sector is a survival of the fittest, and that brands need to have a better quality offer and a closer understanding of their consumers than ever before. As restaurants close, capacity eases and there is more room for surviving operators to breathe. And when restaurants shut, they are often taken on by ambitious smaller brands in particular—and often on better terms,” AlixPartners managing director Graeme Smith added.
