Gordon Ramsay’s huge Paris eatery losses
Posted by Alan | Under Celebrity Chefs Friday Jan 15, 2010
New figures show that Gordon Ramsay’s effort to win the French market in Paris failed in a big way after it was reported that he lost close to £1.8m in a little less than eight months.
The new reports disclose the amount of difficulties that Ramsay encountered as he tried to open his Parisian restaurant, in the account books for Gordon Ramsay Holdings International, which is the subdivision of his empire.
Monday the August 2008 accounts were filed at the Companies House, a mere six months after Ramsay handed over the accounts for his British based company and stated that at one point he almost went bankrupt.
The Parisian restaurant, Versailles at the Trianon Palace Hotel, saw losses of about £1.78m over the span between January 2008 and August 2008.
This could be the result of his gloating before opening the restaurant with statements that he had had enough of the French telling the British how poor their cooking is, just because French food names are more posh sounding.
It seems bad karma came back to Ramsay as his restaurant in Paris opened to harsh reviews with the famed Le Figaro food critic Francois Simon, stating that the restaurant was overpriced, pompous, and boring. In fact Simon stated that he would rather eat a bistro than eat at Versailles again.
Currently Versailles is managed by a third party after Ramsay decided to let it go, along with his Prague business which also saw large losses.
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