Gordon Ramsay’s restaurants lose millions due to Covid crisis

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Accounts show Gordon Ramsay’s restaurants lost millions last year due to the coronavirus crisis.

The celebrity chef, who owns a £ 4.4million seaside mansion in Rock on the north Cornish coast, has been forced to close his stable of restaurants for months due to lockdown rules.

Accounts show Gordon Ramsay restaurants lost £ 5.1million for the year through August 31, 2020, up from a profit of £ 15.2million in the previous 12 months, The Mirror reported .

The group, which the TV star launched in 1997, has 25 restaurants in the UK and 11 around the world, in places such as Las Vegas and Versailles.

Read more: 21 celebrities spotted in Cornwall this summer

The company received £ 3.2million from the leave scheme and Ramsay, 54, had given ‘personal guarantees’ of £ 5million to help run the business during the crisis.

Andy Wenlock, managing director of Gordon Ramsay Restaurants, said the company is confident it will weather the pandemic with financial support from Ramsay.

In a directors report, he credited “additional funding from his bank and major shareholder” for helping to keep the group afloat.

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

Earlier this year, Ramsay said Covid could cost his restaurants £ 60million. He said: “The last 12 months have been the most difficult in my 28 year career.”

Ramsay is due to launch the River Restaurant at the Savoy Hotel in London this month.

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