- Image: Dave Pullig, CC BY-SA 3.0 <http://creativecommons.org/licenses/by-sa/3.0/>, via Wikimedia Commons

Gordon Ramsay has lost £60m during the pandemic

The celebrity chef initially thought that it would be over "in a couple of weeks"

6w ago
25.3K

The COVID-19 pandemic has hit everyone in the hospitality industry very hard. Absolutely nobody has been immune from it, not even the wealthiest and most high-profile chefs and restaurants. One high-profile individual who has been seriously affected by the pandemic is Gordon Ramsay, who revealed very recently that he has lost £60m so far as a result of pandemic-inflicted closures.

The celebrity chef, who owns 18 restaurants in London alone as well as countless more across the world, has had to close all of his UK restaurants as a result of pandemic restrictions. It's no surprise, then, that his businesses have suffered losses that are so huge it's almost impossible to imagine them!

"Having been through so much with the 2008 financial crash, then terrorist attacks and 9/11, when Covid first hit, we all thought it would be over and done with in a couple of weeks," Ramsay said speaking to The Sun. "In December we had £10m-worth of reservations wiped out overnight, and as of 19 March last year to 3 February this year we've suffered £57.5m of turnover down. I'm in it."

Whilst Ramsay has been able to make use of the government furlough scheme since March 2020 to save hundreds of jobs associated with his businesses, he initially came under a lot of critiscism when he had to make large numbers of his staff redundant. It's not something he took lightly, as in the conversation he had with The Sun he stated that "Since 1998, when I started, I have always put my money back into the business. I've never been greedy, I've always been very, very generous."

"I get criticised for being wealthy, but the responsibility on my shoulders - the livelihoods at stake - is huge. I feel that pressure enormously, and the impact of all this has been devastating and incredibly costly."

Ramsay is currently the host of the new BBC quiz show Bank Balance, intended to be a BBC-produced rival to shows such as The Chase and Who Wants To Be A Millionaire. It was also reported last August that he was planning to open 50 new restaurants across the UK. The first of those, Gordon Ramsay Burger in Harrods, opened in late 2020.

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Comments (17)

  • We all lost a lot. I’m not gonna cry for his losses

      1 month ago
    • Not all of us lost £60 million.

      No matter how wealthy you are, £60 million is an insane amount of money.

        1 month ago
    • Including Ramsey he’s not lost £60M he lost the opportunity to lose £60M.

      That money was never in his pocket.

        1 month ago
  • Oh poor Ramsey...

    I really don’t feel sorry for him he was so arrogant about refusing to follow the lock down orders. Do we not all remember him taking his family to Whales, out in fishing boats, cycling trips etc? People like him are the reason this has all spread for so long.

    Also he didn’t lose any money. He was counting the chicks before they hatched. Can’t lose what you never had! Plus that would not have all been revenue £10M in reservations is not £10M in revenue.

      1 month ago
    • And when your net worth is $220 million, I feel absolutely zero sympathy on you losing out on potential future revenue. Ramsay's legacy is set for the future of humanity, where his ancestors will all be able to live handsomely off of the...

      Read more
        1 month ago
  • funny how lot of you made this about how much you dislike gordon, which in the grand scheme of things means diddly, but while you were hating, you forgot all his employees who, apparently like him enough to work for him, and who lost their livelihoods while you were focused on how much you hate G.... where is the love for them?

      1 month ago
  • After reading all the comments below, I can see that there is no sympathy for Gordon Ramsay. Yes, he is well off and the loss is not physical loss, but rather lost opportunity(s). Hence, I would like to repeat what I said in my reply to @BIN 1000 comment, "lost opportunity means lost staff, redundancies, not hiring apprentices, financial losses for his supplies, financial losses of businesses that depend on money spent with them by his redundant staff and so on, and so on. Throw in sufferings of families of redundant staff and you'll end up with pretty tragic picture". Just think of ordinary people who have been affected by it all.

      1 month ago
  • What a shame, maybe his "Only I know best" management style has a lot to answer for.

    And it is not clear if he has lost revenue, or actually made a loss.

      1 month ago
    • His management style is barely different from other big-name professional chefs. The difference between them and Ramsay is that he worked out how to make a brand out of it.

        1 month ago
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