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Gordon Ramsay of Hell’s Kitchen and Hotel Hell fame is in a LOT of trouble right now. According to reports, his business is over $50 million in debt, and he’s not making a single penny of profit – and actually, hasn’t been for a few years. Karma comes back to bite you in the behind.
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.”
Agencies/Canadajournal
