Jamie Oliver’s Restaurant Group Goes Into Administration in UK
Famed chef Jamie Oliver’s restaurant group was recently transitioned to leadership by corporate administration by KPMG, despite 10+ years of industry success. Such news represents a common trend faced by companies and business ventures. To not only succeed but thrive, businesses need to anticipate — and adeptly navigate — industry changes that may result in such leadership adjustments.
“To be successful in this sector, you have to be constantly evolving — from the menus and the drinks choice, to the way you engage with customers,” explains Simon Mydlowski, quoted by the BBC. Uncertainty faced by businesses is not exclusive to the food and beverage industry, however, but is a commonality faced within all industries.
Our executive search firm, JMJ Phillip, operates within and works in conjunction with leading clients across a multitude of industries, including Food & Beverage. Our Food and Beverage Recruiters commonly have discussions with candidates and clients about industry change and the resulting effects. Despite the initial success of certain businesses, it is impossible to successfully anticipate how well a venture will do and how profitable it will be.
“What everyone is learning in real time is that not every company was meant to be in business forever,” says James Philip, Founder and Chairman of Heavy Hitter Holdings. “Fads come and go. Taste change and companies either cannot keep up or cannot predict what the new taste will be regardless if it’s food or fashion.”
Though it is essentially impossible to anticipate or forecast whether a new venture will succeed, entrepreneurs and business professionals must be able to closely monitor the pulse of the economy and the industry in which they operate.
“At least with cloths and few fashion houses set the trend so they have the vantage point,” Philip continued. “For those that don’t follow or adapt, well, they are done. You almost need to open your business with a plan on how you will exit, as well.”
When consulting with our clients and speaking with candidates, we regularly discuss the need to leverage industry insight and business acumen to maintain an understanding of the climate of your industry, in addition to the economy’s climate. Only in doing this will business leaders and entrepreneurs be able to thrive — and if the need arises — transition out.
As Practice Lead for Clarke Caniff Strategic Search and Vice president at JMJ Phillip Group, Kristen leads cross-functional teams across sales, strategy, executive search, recruiting, and service delivery in the hospitality, retail, and luxury sectors. Kristen holds a Master of Business Administration (MBA) from Walsh College, a bachelor’s degree from Michigan State University, as well as SHRM-SCP designation from the Society for Human Resource Management (SHRM).
