1,300 jobs are at risk with Jamie's Italian set to crash into administration just two years after staving off collapse.
The business said it had appointed KPMG to oversee the process, with a more detailed announcement expected later on Tuesday.
Mr Oliver said: “I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade. I appreciate how difficult this is for everyone affected.
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“I would also like to thank all the customers who have enjoyed and supported us over the last decade, it’s been a real pleasure serving you.
“We launched Jamie’s Italian in 2008 with the intention of positively disrupting mid-market dining in the UK high street, with great value and much higher quality ingredients, best-in-class animal welfare standards and an amazing team who shared my passion for great food and service. And we did exactly that.”
READ MORE: Jamie Oliver hails Scotland's junk food plan as 'example to the world' in fight against obesity
It follows a hunt for a new investor in the brand, with a number of private equity firms touted as mulling bids for a stake in the business.
Mr Oliver’s restaurant empire has taken a few knocks over the past two years.
In 2018 Jamie’s Italian shuttered 12 of its 37 sites, with the latter tranche executed through a Company Voluntary Arrangement (CVA).
The TV chef’s steak house Barbecoa also went into a pre-pack administration, leading to the closure of its Piccadilly branch.
Overseas, five branches of the Australian arm of Jamie’s Italian was sold off last year, while another was put into administration.
Despite the troubles, which forced Mr Oliver to pump £13 million of his own money into his Italian chain, he told Press Association earlier this year that casual dining was primed for a comeback.
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