Gordon Ramsay nearly bankrupt

Celebrity chef Gordon Ramsay has admitted he was close to filing for bankruptcy due to the global recession.

Gordon Ramsay has confessed that recent heavy losses in his business interests made him consider filing for bankruptcy. The chef owns over 20 restaurants but annual profits recently dropped sharply from £3million to just under £400,000 a year forcing Ramsay and his business partner, father-in-law Chris Hutcheson, to invest £5million of their own money to keep them afloat. "The industry was getting far too arrogant, they weren't respecting customers enough and they forgot the customers were king," Ramsay told Fox News. "Customers just disappeared. Those that were in the restaurants weren't drinking wine. All were on tap water. Then we had a huge downturn, Monday to Thursday. Your staff costs are the same, your running costs are the same. It was a nightmare. I've learned a lot from a chef's point of view in terms of business. I'm not a businessman, but I certainly don't walk around with my head tucked up my backside. For me, it was a learning curve."

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