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Downturn eats into Ramsay bistro profits






"The financial year ending 2008 was tough on our group and all involved"

Downturn eats into Ramsay bistro profits

Michelin-starred British chef and television personality Gordon Ramsay's restaurants in Britain have suffered a 90 per cent drop in profits as the recession began to bite, it has been revealed.

Ramsay's latest company accounts show that the precarious situation forced the chef and his father-in-law and business partner Chris Hutcheson to pump STG5 million ($A10.17 million) into the business.

The abrasive chef has blamed its problems on over-ambitious expansion and the closure of key London restaurants such as the Savoy Grill, which was shut because the luxury hotel is being refurbished.

Pre-tax profits tumbled from STG3.05 million ($A6.21 million) in 2007 to STG383,325 ($A779,987.79).

Ramsay's international expansion has also raised eyebrows. A spokeswoman for the group said the overseas restaurants would report their results later this month.

He has an award-winning restaurant in Versailles near Paris and branches in County Wicklow in Ireland, in Tuscany, Sardinia, Dubai, Tokyo, Cape Town, New York, Florida and Los Angeles.

The company said that after a restructuring of the British operations, it was confident the group had "successfully undergone change for the better".

Ramsay added: "The financial year ending 2008 was tough on our group and all involved, as well as the rest of the economy that faced a spiralling downturn.

"We have regrouped and learnt some valuable lessons and the business has now returned to a position of strength."


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Comments

The whinging pom, this clown is a fully fledged loser. He lied about his professional soccer career, he cheats on his wife and kids, he is a sexist chauvinistic pig with a disgusting attitude. I hope he goes bankrupt.
death to ramsay (7/07/2009 2:40:45 PM) | Mark as inappropriate
GREAT CHEF! Not sure about all the hubbub to do with the swearing...Have you been out and about lately?? Manners and standards of conduct have dropped significantly these days!
XT (5/07/2009 7:29:57 AM) | Mark as inappropriate
Success! is not always goes and down, But his F... words it makes him more profits. So he doesn't have to worry about still in big money and fame.
? (4/07/2009 9:54:23 AM) | Mark as inappropriate
I hope he gets everything he deserves. This is payback for all the s..t he has dumped on just about everything and everybody. Take him off.
Desh (4/07/2009 7:21:47 AM) | Mark as inappropriate
he is good at what he does but he is a bully, he is the type of person that would have given other kids hell at school, tv shouldnt be allowed to have (reality) programmes where everyone except the "star" is made to feel like the dirt on my shoe
mumof2boyz (3/07/2009 5:22:47 PM) | Mark as inappropriate
come on all you nay sayers... 1:Its his brand and product 2: Its business... derrrrr!!!
Scotchy (3/07/2009 4:37:01 PM) | Mark as inappropriate
Run away Ramsay. Bully boys like him belong in a rat infested sewer, not in the public eye.
Katee (3/07/2009 4:21:25 PM) | Mark as inappropriate
LOL Ramsey ftw ^^ u funny bastard RAWRR
ganagoshinagoashini (3/07/2009 3:47:46 PM) | Mark as inappropriate
I think Gordon is great . He highlights badly run businesses and makes them sit up and change. I hate spending my hard earned dollars on eating out to go home disapointed and suffer gastric the next day. Carry on with the inspections Gordon!
margaret geshueh (3/07/2009 3:22:53 PM) | Mark as inappropriate
I wish more restaurants had the going over by Ramsay, he does the public a favour by identifying sub-standard restaurants. I'd prefer hearing expletives to food poisoning any day. Toughen up sensitive people!
Rational (3/07/2009 3:11:05 PM) | Mark as inappropriate
Still earning more money than he is worth
L. Northey (3/07/2009 2:28:44 PM) | Mark as inappropriate
Gordan Ramsay deserves nothing else. If he were a decent chef he wouldn't need to be a loud mouth jerk to get publicity anyway. I cant believe people want to learn from him anyway
giddy (3/07/2009 1:50:20 PM) | Mark as inappropriate
Used to love his show in the early days then realised it was not about helping chefs but putting crap on them. He could learn a lot from Masterchef.
chris (3/07/2009 1:42:38 PM) | Mark as inappropriate
He is a bully of the worse kind. He makes a profitable living from it.
larney warde (3/07/2009 1:38:09 PM) | Mark as inappropriate
You reap what you sew.
Neil Perry (3/07/2009 1:33:14 PM) | Mark as inappropriate
It would be nice to think we were choosier about who we give our money to these days. A great dining experience is one of lifes pleasures. I won't line this mans pockets when there are so many other great chefs working so hard.
Kate (3/07/2009 1:28:17 PM) | Mark as inappropriate
the man deserves to have his business prosper because of his expertise and hard work, he is not undeserving of success just because he's open about being a jerk. I hope he remains successful and that his wife and children profit from this success.
aquachild (3/07/2009 1:05:08 PM) | Mark as inappropriate
well that`s Business
naum dimo (3/07/2009 11:59:03 AM) | Mark as inappropriate
it might teach him to eat humble pie and not defame other people
vic tacilauskas (3/07/2009 10:24:41 AM) | Mark as inappropriate
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