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General Forum - Gordon Ramsay Facing Bankruptcy - Page 1
Elite
From IMDB
Not even famous celebrities can escape the recession.
Quote:
British celebrity chef Gordon Ramsay is the latest victim of the international economic downturn - he has been facing bankruptcy after profits plunged at his international restaurant chain.
The cookery expert presents a string of TV shows - including Hell's Kitchen and Ramsey's Kitchen Nightmares - in both the U.S. and U.K. and owns over 20 restaurants across the world.
Ramsey has admitted he was recently advised to file for bankruptcy because his upmarket 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.
But the star has been able to stave off the debt-collectors for the moment by pumping $8 million (£5 million) of his own money into the company in a last ditch bid to keep the business afloat.
Ramsey has also laid off 15 per cent of his 1,200 staff and cut back costs - but he hopes the frightening experience has made him a better restaurateur.
He tells Fox News, "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.
"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."
floyd
Elite
Oh dear what a pity nevermind...
---
Reviewer
I can't abide Gordon Ramsey. He's absolutely repellent in all the shows he does, and is only famous because he swears like a docker. Any vague admiration for him making good evaporated when I heard about merchant bankers blowing £25,000 on a bottle of wine for lunch at one of his eateries. Well, now his banking buddies have turned around and bit him in the arse.
How sad. 
J Mark Oates
--------------------
Ahhhhhh - you're all nuts!!!! Jimmy Finlayson 1887-1953
sprockethole.myreviewer.com
Elite
And didn't he get exposed of not ever playing in the first team at Rangers - the guys a class 1 tit anyway.
here you go:- http://www.telegraph.co.uk/news/newstopics/celebritynews/4902309/Gordon-Ramsays-Rangers-claims-questioned.html
This item was edited on Thursday, 13th August 2009, 19:25
Elite
F***,c*** s***,twat,f***,f***,s*** double s***.......
Mr Basbat
Elite
The misleading thing there is I'm pretty sure Gordon Ramsay was advised for his company to apply for bankruptcy rather than him.
Basically if the company, which it appears runs the restaurants etc, goes bankrupt, he wouldn't lose his personal home or anything like that and all his tv/book contracts would all come to him personally so he'd still be earning millions per year. He just wouldn't have those restaurants.
I'm pretty sure he's massively well off, seen as he's decided to pump £5million of his personal funds into the business to keep it afloat (he must obviously have made the decision that long term, it will pay back this plus more).
www.last.fm/user/1mills
Competent
That's what I was thinking, Mills.
He's nowhere near being bankrupt, earning approx £10million P.A. for book and TV deals.
His company will be a limited company, so he's protected.
TBH, I think his chickens are coming home to roost.
One cannot be seen on telly chastising desperate restaurant owners for using ready-made/prepared food, then be seen to pre-prepare one's own food in a factory style kitchen, miles away from the bistro you're serving it in.
The guy's a massive hypocrite.
I also feel these people often reveal too much on TV, sometimes.
For example, he will gladly tell a restauranteur to buy wine @ £3 a bottle and sell it at £30+.
Sorry?
You just told me what your ridiculous mark-up is?
And you still expect me to buy wine in your restaurant?
Perhaps that's why he was moaning more and more people are ordering tap water in his establishments. 
Nothing to do with the credit crunch, more something sticking in their throats....
This item was edited on Friday, 14th August 2009, 12:25
Elite
Quote:
Basically if the company, which it appears runs the restaurants etc, goes bankrupt, he wouldn't lose his personal home or anything like that and all his tv/book contracts would all come to him personally so he'd still be earning millions per year. He just wouldn't have those restaurants.
Correct
YNWA
A.C.C
"Clarkson you infantile pillock" - J May, Top Gear, 9/11/2008
A Tribute - to remind us all of the good doc whilst his posting capacity is reduced. . . . . . . . . .
Elite
Will damage his reputation
Especially with his Kitchen nightmare programs
After all would you take advice from him in running a restaurant when he can't even keep his own going
Elite
To some extent yes
The people he advises are rarely in the same "sector" of the restaurant industry as his restaurants.
The advice he gives on setting up the restaurant, how the staff should act, how the kitchen should be cleaned etc etc etc is still viable and helpful information.
The fact he, or the managers in charge of the restaurants, are either financially lacking in knowledge or did not know how to adjust to the recession [quick enough] is a separate issue and one different to actually operating a restaurant
YNWA
A.C.C
"Clarkson you infantile pillock" - J May, Top Gear, 9/11/2008
A Tribute - to remind us all of the good doc whilst his posting capacity is reduced. . . . . . . . . .
This item was edited on Friday, 14th August 2009, 13:25
