Celebrity chef Jamie Oliver's Barbecoa steak restaurant in London's Piccadilly is set to close after going into administration.
According to bbc.com, the Piccadilly venue is one of two Barbecoa restaurants run in London that have gone into administration. 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.
The news follows last month's announcement that the Jamie Oliver Restaurant Group was closing 12 of its 37 Jamie's Italian restaurants as part of a rescue plan with creditors that would allow it to continue trading.
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It was revealed via court documents that Jamie's Italian had amassed debts of £71.5 million, with £47 million of these debts being covered by loans from HSBC Bank and other companies owned by Oliver.