Gordon Ramsay’s Financial Nightmares

Everybody loves to see the high and mighty struggle, and there’s a definite note of schadenfreude in the Telegraph’s coverage of the financial woes faced by restaurants belonging to foul-mouthed gourmet Gordon Ramsay. Here are the raw numbers:

“The celebrity chef’s latest accounts, filed at Companies House, show that his turnover was down 14 per cent from £41.59 million to £35.57 million while profits slid from £3.05 million to £383,325.

“Meanwhile, net debt for the business more than doubled from £4.01 million to £9.48 million, while interest payments climbed from £279,485 to £545,563.”

How serious is it? Hard to tell. Ramsay maintains it’s a natural stabilization period following an aggressive expansion, but a glut of only recently repaid back taxes point to the possibility of a more serious situation.

A follow-up story by the Telegraph socks it to the chef:

“The poor figures cap a terrible few months for the chef and television personality, who has faced allegations of an extra-marital affair, been condemned for serving ‘ready meals’ in his pubs and whose flagship restaurant crashed out of the list of the 50 best restaurants in the world.”

Image source: Flickr member Dave Pullig under Creative Commons