Dynamic Business Logo
Home Button
Bookmark Button

Economic crisis bites into Gordon Ramsay’s profits

The recession has hit chef Gordon Ramsay where it hurts – his pockets, as his restaurants in Britain have suffered a 90 percent drop in profits.

Proving that even celebrities are not immune from the effects of the economic crisis, Ramsay’s company pre-tax profits tumbled from STG3.05 million ($6.21 million) in 2007 to STG383,325 ($779,987.79).

The renowned chef blamed the drop in profits on an over-ambitious expansion and the closure of key London restaurants such as the Savoy Grill, with the luxury hotel shut for refurbishment.

Speaking on the loss, Ramsay said that while the financial year ending 2008 was tough on the group, they have “regrouped and learnt some valuable lessons and the business has now returned to a position of strength.”

People who read this, also liked:
Reinventing your business

What do you think?

    Be the first to comment

Add a new comment

Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

View all posts