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TUESDAY, NOVEMBER 24, 2009
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6

Hell's Kitchen Chef Sees Profits Fry

Ramsay pours millions into failing biz, admits 'ambition overtook me'

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(Newser) – Burned by plunging profits after a year of dizzying expansion, Hell’s Kitchen star Gordon Ramsay admits he bit off more than he could chew. Profits at Gordon Ramsay Holdings, which the fiery chef co-owns with his father-in-law, have dropped 90%, forcing the pair to pour more than $8 million of personal funds into the business, the Financial Times reports.

“Ambition overtook me. We thought we could do anything, that we couldn't fail,” said Ramsay, who even sold his prized Ferrari to raise cash, CNN reports. GRH opened 10 restaurants between 2007 and 2008, but has since shuttered operations in Paris, Los Angeles, and Prague. It has also shed staffers and reduced restaurant hours.

Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.
Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.   (AP Photo/The Canadian Press, Sheryl Nadler/File)
Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.
Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.   (Getty Images)
Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.
Profits at celebrity chef Gordon Ramsay's British restaurants plunged by nearly 90 percent in the last 12 months.   (Getty Images)
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6 comments
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SPH
Jul 4, 09 5:12 PM CDT
Ha..Ha...It seems people aren't intrigued by your over-priced, mediocre food... Reply
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+2
contecsol
Jul 4, 09 5:30 PM CDT
It couldn't have happened to a better self-indulgent fool. Never read, let alone believe, your press. This clown takes anal-retentive to a new level. I bet all the former contestant loosers are having a great 4th! Reply
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0
Kookey90
Jul 4, 09 6:53 PM CDT
It couldn't have happened to a greedier, self-centered, egotistical individual - I have NO pity for the fool. I agree with Contescol , there must be a small on every former contestant loosers face. Reply
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-3
mak
Jul 4, 09 9:34 PM CDT
granted, he's a hardass on hell's kitchen, but let's remember that he's worked all his life very hard to get where he is (was). the restaurant business is not all hearts and flowers, it's a place were you need a strong work ethic and drive to get ahead. since when does that make a person bad? he didn't cheat anyone, he didn't lie to anyone-he got in over his head. my oh my you are a tough lot. let's not throw stones, especially when you can't even spell 'loser' correctly. Reply
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+1
IN RESPONSE:
Kookey90
Jul 5, 09 4:01 AM CDT
Mak, last time I checked we're supposed to be able to post comments on this website - no one said anything about it being a spelling contest. Like my friend Rodney Dangerfield used to say " Why worry about mouse turds when the alligators are biting" - get over it and move on.
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+2

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