Today’s news is that Jamie Oliver’s Italian restaurant chain has failed. This is just the latest in a string of similar stories.
I’m not going to comment on why this is happening but I have observed since the 1990s that there have been increasingly fewer viable restaurant locations available to smaller operators, who have been squeezed out and out-competed by bigger money. I’m not sure this has been a good thing.
So, whilst I feel sad for Jamie and, moreover, for his staff, I see a chance for new, fresh entrepreneurs to pick up where he’s had to call a break and I predict that the market will re-balance quickly away from stereotypical brands
For the first time in two decades there are lots of viable locations available now and most of them will have expensive infrastructure, including kitchens and ventilation systems that can be re-purposed for a fraction of their new costs.
Highly trained staff will be looking for jobs. Maybe landlords will accept compromises.
Brave, up and coming restauratuers should see this as an opportunity that won’t last long