With a slew of successful restaurants and several networks streaming cooking shows, Gordon Ramsay tops the list of celebrity chefs and manages to shock his audience with his impressive fortune. Although there have been several other culinary kings, Ramsay arguably stands out to be the best among the Michelin star-studded chefs.
Considering the fortune he has accumulated from his fame, it won’t be surprising to know, the English chef enjoys an incredible lifestyle. However, what’s surprising to his fans is Gordon Ramsay’s potential bankruptcy. It turns out, despite being on top of success and enjoying a lavish lifestyle, Ramsay almost lost his ginormous financial empire.
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Gordon Ramsay’s Million Dollar Culinary Empire
Among Gordon Ramsay’s highly anticipated shows like Hell’s Kitchen and Kitchen Nightmares, it is not wrong to consider the chef has acquired a specific reputation. From being literally all over the place, when it comes to cooking shows and restaurants, Ramsay is globally famous for his signature foul language.
So much to his fame, but the 56-year-old is not just the footballer-turned-chef, who bags annual sales of tens of millions with his TV appearance and culinary empire. Being a deeply ambitious person, acing towards his international goals, Gordon Ramsay is the most bankable culinary star with a fortune of $220M.
As a result of Ramsay’s infamous dishes and fame, people are even willing to partner with the Michelin star-studded chef to secure a business of their own. Thus, along with his partners, the 56-year-old opened chains of restaurants in different notable cities, throughout the world. However, despite the incredible things happening to Ramsay’s business and empire, it almost crumbled during the initial years.
Gordon Ramsay Walks Towards Potential Bankruptcy
Over the past few decades, Gordon Ramsay has been notably struggling with his fame and fortune. Despite being a business-minded celebrity chef who rose to fame with his passion for food and delicacies, Ramsay almost failed at making the right business decision for his profit. Showing consistency at opening restaurants and signing sponsored deals was not enough to hold onto his fortune.
In 2009, reports from Marie Claire revealed, Gordon Ramsay was a lot less financially secure than he appeared to be. Ramsay was almost on the verge of losing his business. According to the outlet, “The Michelin-starred chef said his company Gordon Ramsay Holdings (GRH) was losing millions of pounds.” Evidently, the 56-year-old being concerned with the prospect of administration, reportedly “sold his Ferrari and considered selling up to 20 percent of the company and his £6m home in Wandsworth”.
Apparently, it was reported, the crisis came along as breached their overdraft and loan limit and failed to achieve the revenue target. Witnessing the financial condition, even KPMG went through GRH’s books and investigated only to find out the company owed $8.9M in taxes. In an attempt to expand his empire too fast, Gordon Ramsay almost failed to sustain his financial empire. Ultimately Ramsay was able to recover the losses and continue his business without any further financial perils.
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Source: Marie Claire
