Gordon Ramsay’s Covid nightmare as restaurants lose millions due to crisis

Gordon Ramsay Restaurants, which has 25 restaurants within the UK and 11 worldwide in areas such as Las Vegas and Versailles, lost £5.1million for the year to August 31, 2020

Gordon’s had a Covid nightmare

Gordon Ramsay’s restaurants lost millions final year due to the coronavirus crisis.

Lockdowns pressured his restaurants to keep closed for months.

And accounts present Gordon Ramsay Restaurants lost £5.1m for the year to August 31, 2020, in contrast to a revenue of £15.2m within the earlier 12 months.

The group, which the superstar chef launched in 1997, has 25 restaurants within the UK and 11 worldwide, in areas such as Las Vegas and Versailles.

The company obtained £3.2m from the furlough scheme and Ramsay, 54, had given “personal guarantees” of £5m to assist steer the business by the crisis.

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Andy Wenlock, chief govt of Gordon Ramsay Restaurants, stated the company was assured of driving out the pandemic due to Ramsay’s monetary backing.

In the administrators’ report, he credited “additional funding from its bank and its major shareholder” for serving to to preserve the group afloat.

He stated: “The Covid-19 pandemic has had a significant impact on the group.”

Gordon Ramsey’s Maze Restaurant in London


Daily Record)

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Earlier this year, Ramsay stated Covid might price his restaurants £60m.

He stated: “The last 12 months have been the most difficult of my 28-year career.”

He is due to launch The River Restaurant on the Savoy Hotel in London this month.

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