Less than a year, and Jamie Oliver’s entry into mass
catering has turned into a flop, making a staggering loss.
The Daily Mail reported that despite a £500 000
investment and the backing of the celebrity chef, the company ‘Fabulous Feasts’
made a loss of around £350 000. The couple Oliver trusted with the
management of his business, Glen and Susie Chadwick, allegedly lost that amount
in just under a year.
The details of the disastrous
venture emerged at a tribunal in Reading, after the Chadwicks accused Oliver of
wrongful dismissal.They are suing based on the claim that
Oliver did not tell them their jobs were at risk before they were fired.
The company seemed set to be a
success when it was awarded a contract to work at the annual Winter Wonderland
in England. The event, which features a range of Christmas entertainment, sees more
than two million visitors and it is reported that Fabulous Feasts expected to make
£400000. However, they lost almost the same amount.
During the tribunal, the Chadwicks
said the loss had been due to a poor turnout at the event, and that the food on
offer was too complex. However, their staff complained of the managers not
pulling their weight while some worked 100-hour weeks.
The hearing was adjourned, and
judgment will be delivered next month.
Clearly not everything The Golden Boy does turns to gold... bad business decision or bad management?
Article via: www.dailymail.co.uk
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