Jamie's Italian has appointed KPMG as administrators, the company confirmed today, and as many as 1,300 jobs are expected to be affected by the insolvency process.
The father-of-five continued: "We launched Jamie's Italian in 2008 with the intention of positively disrupting mid-market dining in the United Kingdom high street, with great value and much higher quality ingredients, best in class animal welfare standards and an incredible team who shared my passion for great food and service".
Mr Oliver, 43, who became a well-known figure in Britain and beyond for his popular TV shows, founded his Jamie's Italian brand of high street restaurants in 2008.
He said "I appreciate how hard this is for everyone affected".
Jamie Oliver has said he is "deeply saddened" after his restaurant chain has had to close.
The company operates 23 Jamie's Italian restaurants in the United Kingdom. "And we did exactly that".
The administration comes after sales at Jamie's Italian dived by almost 11% previous year to £101m as it closed 12 restaurants and made about 600 staff redundant.
Mr Oliver, who was discovered by the BBC while working as a chef in London's River Cafe, gained widespread fame for his "Naked Chef" show, which was broadcast in dozens of countries. The Essex-born chef has admitted that 40% of his business ventures were failures.
The business empire slumped to a loss of almost £20m last year, dragged down by a grim year at the restaurant chain.
"KPMG is likely to lead a search for a new owner, which will come after Mr Oliver's business launched a restructuring process in 2017 to shed a number of loss-making sites".