Creditors of celebrity chef Jamie Oliver's failed Italian restaurant chain are set to lose most of the £80m (R1.5bn) they are owed after its collapse in May last year, according to administrator KPMG.

Unsecured creditors of Jamie's Italian would not recover most of their money, while HSBC and Oliver's holding company, which owned £57.7m of the company's secured debt, would also "suffer a significant shortfall", KPMG said in a progress report.

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