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.