Gordon Ramsay is in hot water, as his business goes down in flames

Filed under: Economy, People, Investing

Anyone hoping for the foul-mouthed celebrity chef Gordon Ramsay to get what's coming to him will have their wildest dreams come true. Ramsay's restaurant empire is in tatters, done in by ill-advised overexpansion, just as the economy was tanking.

The bellicose Brit's failure as a businessman is breathtaking to behold. "In the fall of 2008, his London-based Gordon Ramsay Holdings Ltd. breached the covenants on a £10.5 million [$17 million] loan and overdraft facility from Royal Bank of Scotland Group Plc.," according to Bloomberg News. "In late December, Ramsay says, KPMG recommended that the company declare bankruptcy, fire hundreds of people and close all but its best-performing restaurants."

Continue reading Gordon Ramsay is in hot water, as his business goes down in flames

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Read More... [Source: DailyFinance]