Gordon Ramsay banks a £1.1m profit from his image rights company… boosting his balance after his restaurant empire accumulated huge losses of £24.7m

Gordon Ramsay has had a bank balance boost after accumulating huge losses with his worldwide restaurants.

His restaurant empire, which stretches far beyond these shores, with outposts in Versailles and Las Vegas, has accumulated immense losses, which now amount to £24.7 million — despite snapping up £3.3 million in furlough payments.

But there’s no immediate prospect of Ramsay embracing a starvation diet, thanks to the nourishing figures emerging from his image rights company, Humble Pie Media.

Money talks! Gordon Ramsay has had a balance boost after accumulating huge losses with his worldwide restaurants, with nourishing figures emerging from his image rights company

It’s just reported a profit of £1.1 million for the past year, helping to take its total reserves to £5.7 million. 

Proof that television chefs tend to produce their most dazzling work well away from the kitchen?

The celebrity chef runs or owns a stake in 35 restaurants in the UK and has licence agreements for a further 13 worldwide. 

Last year the chef revealed he had lost £57 million during the Covid pandemic after being forced to close his restaurants for much of 2020.

Gordon admitted he’s been ‘devastated’ by the financial impact of the crisis, and lost £10 million worth of bookings in January 2021 alone due to the third lockdown.

The TV star had previously revealed that he was forced to cancel 22,000 bookings for his restaurants in December 2020 as England was placed in tiered restrictions following a rise in Covid cases.

Gordon told The Sun: ‘In December we had £10m worth of reservations wiped out overnight.’

‘As of 19th March to 3rd February this year we’ve suffered £57.5million worth of turnover down.’

Tough: His restaurant empire, which stretches far beyond these shores, with outposts in Versailles and Vegas, has accumulated immense losses  (Heddon Street Kitchen is pictured in London)

Gordon added he had been forced to take up the Government’s furlough scheme to save thousands of jobs across his restaurant empire.

He added: ‘I get criticised for being wealthy, but the responsibility on my shoulders – the livelihoods at stake – is huge.’

It wasn’t all doom and gloom for the star’s pandemic bank balance though as last September it was revealed the star had made £6million via his image rights and production companies. 

Gordon Ramsay’s Bank Balance – which was axed after just one series – Gordon, Gino and Fred: Roadtrip, and Fox series Next Level Chef were among those TV stints that have bumped up his bank balance by an astonishing figure.

His Studio Ramsey production firm did not stop at churning out a range of shows, producing YouTube segments, as well as Channel 4’s The Fantastical Factory of Curious Craft, hosted by Keith Lemon.

According to The Sun’s reports, Gordon’s Humble Pie Media and Humble Pie Productions were worth a combined £9.5 million in September 2021 – up £7million from the year before.

Documents revealed that the latter paid just under £1 million in tax, while the former paid £142,000, meaning the Hell’s Kitchen star made approximately £6 million during the pandemic.

Success: Gordon, Gino and Fred: Roadtrip [pictured from L-R Fred Sirieix and Gino D’Acampo]  was among the chef’s TV shows that bumped up his bank balance during the pandemic 

Source: Read Full Article