Gordon Ramsay Suffers Real Kitchen Nightmare: A Potful Of Debt!
June 13 2018, Published 9:55 a.m. ET
More than just the steak is bleeding red inside Gordon Ramsay’s hotel and restaurant empire, which has found itself millions of dollars in debt!
Confidential financial filings for the celebrity chef’s holding company, Kavalake Limited, reveal the loudmouth’s businesses posted a total loss of $5.56 million for the year ending Aug. 31, 2017.
What’s more, Ramsay is closing down his famed restaurant Maze, in London’s Mayfair — and another London property, the York & Albany Hotel, is $18.98 million in debt.
The embattled company owes its creditors a whopping $44.10 million, with only a paltry $255,876 in cash to settle the backbreaking debts.
But it looks like things will only get worse for the 51-year-old foodie.
Buried deep in his company’s financial filings is proof Ramsay personally guaranteed almost $7 million of its credit.
“That could be devastating for Gordon,” said an insider. “When you start personally guaranteeing loans, banks can come after you.”
Now, the company is trying to square the books, at least in part, by hounding Ramsay’s former charity for cash.
The filings reveal the since-dissolved Gordon Ramsay Foundation owes $3,680.06 to the subsidiary.
“How low can you go?” asked a source. “Just forgive the debt for crying out loud!”
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