Housewares Business-to-business magazine for housewares retailers and their suppliers
Celebrity chef Gordon Ramsay has seen profits from his restaurant business slashed.
In the year to August 2008 Gordon Ramsay Holdings’ profits fell 87% – down by over £3m to £383,000. Turnover fell 14% from £41.59m to £35.57m.
Ramsay and his business partner Chris Hutcheson have reportedly put £5m of their own money into the business to rescue it.
The chef’s problems are thought to have arisen as a result of rapid expansion and associated difficulties with cash flow. The company has opened 10 restaurants in as many months.
