Sales tripled last year at Gordon Ramsay’s restaurant empire, but the celebrity chef still posted a loss of £504,000
Tasty: celebrity chef Gordon Ramsay
Sales tripled last year at Gordon Ramsay’s restaurant empire, but the celebrity chef still posted a loss of £504,000.
Gordon Ramsay Restaurants reported a record turnover of £78.9m for the 12 months ending August 2022, up from £26.2m the year before.
This reflected the company’s post-Covid recovery as it enjoyed ’12 months of uninterrupted UK trading’.
The pandemic previously brought Ramsay’s business to a halt and forced his restaurants to cut hundreds of jobs as losses amounted to nearly £6.5 million. Before Covid, Gordon Ramsay Restaurants posted a turnover of £55 million.
Losses have since fallen significantly, and the company pushed ahead with expansion plans last year by opening seven restaurants. The group operates 36 locations in the UK and also has offices in countries such as Malaysia, the United Arab Emirates and Singapore.
Andy Wenlock, Ramsay’s business partner, said: ‘the group remains committed to and on track with its growth strategy, both in the UK and internally’. The highest paid director took home £517,000 in 2022, up from £372,000 in 2021.
Ramsay, 56, the group’s main shareholder, pledged to provide financial support “in the event of a severe recession.”