CELEBRITY chef Gordon Ramsay has seen his profits plunge 87%.
CELEBRITY chef Gordon Ramsay has seen his profits plunge 87%.
His latest business accounts show profits for Gordon Ramsay Holdings fell from £3.05million to £383,325.
In the year to August 2008, turnover dropped to £35m from £41.6m the previous year. Meanwhile, net debt soared from £4.06m to £9.48m.
The figures made miserable reading for Ramsay, and his business partner and father-in-law, Chris Hutcheson. They reveal Ramsay put £3.5m into the business, while Mr Hutcheson donated £1.5m.
The company has also just paid almost £8m in unpaid backlog of VAT, corporation tax and Pay As You Earn money following an investigation by the Inland Revenue.
It is the latest blow for the 42-year-old Scot.
Last month the host of Ramsay's Kitchen Nightmares was forced into a grovelling apology after he described Australian TV host Tracy Grimshaw as a lesbian and compared her to a pig.
