British celebrity chef Gordon Ramsay is the latest victim of the international economic downturn. The foul-mouthed cook is facing bankruptcy after profits plunged at his international restaurant chain.
In addition to TV shows “Hell’s Kitchen” and “Ramsay’s Kitchen Nightmares,” the Ramsay brand includes more than 20 restaurants across the world.
Ramsey has admitted he was recently advised to file for bankruptcy because his upscale eateries have been hit hard by the international recession. He has been forced to sell his luxury sports car and is even considering offloading his London home in a bid to pay his debts.
He has poured $8 million of his own money into his company to try to keep it afloat. Ramsey has also laid off 15 per cent of his 1,200 staff and cut back costs.
“I faced bankruptcy. Heading out of global economic downturn has been tough. Customers just disappeared. Those that were in the restaurants weren’t drinking wine. All were on tap water,” he told Fox News.
“Then we had a huge downturn, Monday to Thursday. Your staff costs are the same, your running costs are the same. It was a nightmare. All of a sudden, this whole thing was nothing to do with cooking. I had my own personal nightmare.
“I’ve learned a lot from a chef’s point of view in terms of business. I’m not a businessman, but I certainly don’t walk around with my head tucked up my backside. For me, it was a learning curve.
“I’ve had failures and I’ve failed, but I’ve learned brilliantly from my mistakes and there’s no script there”
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