General News

Ramsay closes pub over recession

By:
Jun 29, 2010 | 5:00am EDT

The Hell's Kitchen star's business empire has suffered in the recent economic downturn and in 2009 he was advised to file for bankruptcy because of his spiralling money issues.

Ramsay managed to stave off the debt-collectors momentarily by pumping $8 million (£5 million) of his own money into his businesses in a last-ditch bid to keep afloat, but has subsequently been hit with a series of bills and legal issues.

And now the TV star has shut down gastro pub The Devonshire in the British capital, which he opened in 2007, as a result of the recession.

A spokesperson for Ramsay says, "The Devonshire pub has not been meeting our expectations for a while and we have taken the decision to close it while we consider future plans."

Ramsay's company Gordon Ramsay Holdings reported a loss of $6.5 million (£4.3 million) last year (09).

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