Gordon Ramsey May File for Bankruptcy
Posted on Aug 20, 2009 12:11pm PDT
Gordon Ramsey, a celebrity chef from Britain, appears to be the most recent victim of the faltering economy. According to the chef, he has been facing
bankruptcy after profits plunged on his international restaurant chain.
Ramsey is most recognized for his TV shows "Hell's Kitchen" and "Ramsey's Kitchen Nightmares", both of which are broadcasted in the United States and the U.K. It is reported that aside from his television career, Ramsey currently owns 20 restaurants throughout the world.
Recently, the popular chef admitted that he was advised to file for bankruptcy because his restaurants have been hit so hard by the global recession. In order to avoid filing, he sold his luxury sports car and is currently thinking about selling his London home to repay debts that he owes to his creditors. He also abated his creditors by giving $8 million of his personal money to keep his business in full operation. Additionally, Ramsey has had to let go of 15% of his workforce, which is roughly 1,200 people.
He recently told reporters at Fox news, "I faced bankruptcy. Heading out of global economic downturn has been tough. Customers just disappeared. Those that were in the restaurants weren't drinking wine. All were on tap water."
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