Gordon Ramsay in deep financial trouble

[Old Timer]

I came across this bit of news today.

Here is the source.. http://www.dailymail.co.uk/tvshowbiz/article-1326046/Gordon-Ramsay-suffers-new-blow-bank-stakes-claim-3m-home.html

It seems Ramsay owes quite a bit of money and has given up ownership of several of his restaurants.

I remember reading recently, that his hew restaurant in London had been delayed as well. That was where the winner of the latest Hells' Kitchen was supposed to work. I think her name was Holli Grieg.

[Jenni]

We were talking about this today in my AAT class! Apparently it's not the first time he's had these kinds of problems. Sounds like he's a good chef, but not good with managing money!

[Tri2Cook]

Sounds like he's a good chef, but not good with managing money!

I'm guessing it's more a sign of the economic times. He's extended himself into a large restaurant empire. The domino effect of the individual restaurants suffering hard times at the hands of the economy would add up to a big kick in the finances. If you're pulling from your own pocket to keep a restaurant afloat during slow times or to cover debt if it goes belly-up, it takes it's toll. If you're doing that for a bunch of high-end restaurants, it will take it's toll quickly.

[Jenni]

^^^

I know what you mean, but as I said I have heard that he has had problems before. To me, this indicates that he is perhaps not quite so good at managing his cash flow.

[Simon_S]

Of course, Ramsay may indeed be struggling, but I wouldn't believe everything you read in the Daily Mail!

[Tri2Cook]

Of course, Ramsay may indeed be struggling, but I wouldn't believe everything you read in the Daily Mail!

There is that...

[roosterchef21]

I think it may end up been the end of him and his empire. His father-in-law has left him, who by all accounts kept the business afloat. His proteges such as Hartnett, Sargeant, Atherton and Wareing have all deserted him. You need great chefs. His flagship restaurant is nothing like it was. Not even on the same planet. The public are sick of his foul-mouthed ways. The media have begun highlighting the "extra-curricular activities" with his mistress and the poor relationship with is wife and kids. He's offended pretty much everyone from here to Mars and back. He's missed charity events and from all accounts has lost his touch in the kitchen - and from what has been said hasn't stepped inside his restaurants for any great period of time for a very long time. The knives are out. And it's not just in the tabloids. It's worldwide in some serious papers. For example, over here he made The Australian - which is what The Times is to England - with a few comment pieces all in a negative light. You can search on Google for articles on him in the past month and they haven't been positive.

Edited November 9, 2010 by roosterchef21 (log)

[Florida]

maybe he can go on one of those restaurant makeover shows...

[IndyRob]

maybe he can go on one of those restaurant makeover shows...

Marco Pierre White might have some free time. Might have to be on pay-per-view though.

[Karri]

His restaurant maze was kicked out of the One&Only hotel in Cape Town a few months back. Apparently it was stipulated in the contract that he needs to make visits bimonthly and he never came to check up on his restaurant even once.

[Blether]

Good tabloid fodder that word, "apparently". All the way to saffie twice a month ? They don't even ask professional cabin staff to do it any more often. How big was this restaurant to supposedly support that sort of travel budget ? Was the intention just to make it ridiculously expensive ?

[Karri]

I've no clue. Only thing I know for a fact is that maze is no more, and that it has been replaced by a South African chef's restaurant. And the press release was from the hotel the One&Only itself, not some hearsay... But yes, if Gordon Ramsay actually said he would visit South Africa every two months he is a moron.

[roosterchef21]

Monsieur Roux was right it seems. You can't maintain standards if you spread yourself so thin and put your mug on TV. Michelin has been rumoured to want to take away his third star in the past. If they do so, then I think that's the end of him, if it isn't already. Once that third star has gone, his reputation as a top class chef has gone. His one key commodity that will continue to sell is his reputation as a chef. Once that reputation and exclusivity leaves him, then all he has left is his temper and philandering ways. No stagiere wants to work with him, especially when there are better restaurants and better chefs around who are in the restaurant regularly. Sure, two Michelin stars is good, but three is that much better. And since his restaurant is barely two now...

[rudallrose]

Monsieur Roux was right it seems. You can't maintain standards if you spread yourself so thin and put your mug on TV.

Roux appears on Celebrity Masterchef but at the same time, does not spread himself so thin or in such a clownish way as Ramsay. Ramsay's formulaic and ridiculous programmes have certainly lowered his standing as a chef or purveyor of fine food. Ego often gets in the way of success.