Jamie Oliver risks losings the rights to his £150m recipe books to save struggling business empire
JAMIE Oliver risks losing the rights to his £150million recipe books after using them to try to save his struggling business empire.
He offered the rights and other assets as security for a bank loan three months before his restaurants went bust.
Restaurant chain Jamie’s Italian has come under financial struggle and been forced to close a number of sites
Failing to repay could see the chef, 43, forfeit future income from 20 bestsellers such as Save With Jamie — which have earned £150million.
Also at risk are rights to 33 TV shows, shares in three of his firms and £7million insurance policies — which he also offered as security.
It is unclear how much he borrowed from Santander.
But one accountant, Shaz Nawaz, said: “He’s effectively put the copyright to his books and shows, shares and insurance policies up as collateral.
“The loan will be significant — possibly over £500,000, but it could be millions of pounds.”
The cash was lent to some of his firms that run the non-restaurant parts of his empire, Companies House records show.
MOST READ IN UK NEWS
The eaterie chain — including Jamie’s Italian, Barbecoa and Fifteen brands — went into administration last week.
Twenty-two of 25 venues were shut with 1,000 jobs lost. Jamie, worth £240million, recently put in £4million of his cash and £11million from one of his firms to support the restaurants.
Their flop is in contrast to his literary success. His ten million sold books put him second only to JK Rowling in the UK.
Also at risk are rights to 33 of Jamie’s TV shows
- GOT a story? Ring The Sun on 0207 782 4104 or WHATSAPP on 07423720250 or email exclusive@the-sun.co.uk.