Loud-mouthed celebrichef and restauranteur Gordon Ramsay is said to be nearly broke.
Blame ambitious over-expansion and ill-advised business planning for the woes:
Daily Finance: The bellicose Brit’s failure as a businessman is breathtaking to behold. “In the fall of 2008, his London-based Gordon Ramsay Holdings Ltd. breached the covenants on a £10.5 million [$17 million] loan and overdraft facility from Royal Bank of Scotland Group Plc.,” according to Bloomberg News. “In late December, Ramsay says, KPMG recommended that the company declare bankruptcy, fire hundreds of people and close all but its best-performing restaurants.”
Further hurting his reputation were allegations in the U.K. media of a seven-year extramarital affair. Adding insult to such injury, the Telegraph this year reported that Ramsay had exaggerated his youthful soccer exploits. And the chef is in hot water with tax authorities and behind in his payments to suppliers.
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