Gordon Ramsay Over $50 Million in Debt, Near Bankruptcy Again

Gordon Ramsay Over $50 Million in Debt, Near Bankruptcy Again

LOS ANGELES, Aug. 7 (UPI)–A man known for helping other people with their struggling businesses may have to start taking some of his own advice.

According to a RadarOnline report, popular TV chef Gordon Ramsay is more than $50 million in debt.

Ramsay, who helps business owners on shows like Kitchen Nightmares and Hotel Hell, and the umbrella company that handles his business endeavors, Kavalake Holdings, lost more than $10 million dollars in 2013.

The same report reveals that Kavalake has some $7 million in cash holdings but has $50.5 million in debt due in one year.

Radar does point out the debt numbers are only related to Ramsay’s British business operations. He has 12 restaurants in the U.K., but has many more including locations in the United States, France, Italy and Qatar.

It’s also not Ramsay’s first brush with bankruptcy, but while individual restaurants may close and legal fees may pile up, the celebrity chef is or has been the star of more than a dozen popular cooking shows in the U.K. and U.S.

One source of revenue, Kitchen Nightmares, will soon be off of Ramsay’s plate.

“As filming comes to a close on the latest series of Kitchen Nightmares I’ve decided to stop making the show,” Ramsay wrote on his website. “I’ve had a phenomenal 10 years making 123 episodes, 12 seasons, shot across 2 continents, watched by tens of millions of people and sold to over 150 countries. It’s been a blast but it’s time to call it a day.”


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