Celebrity chef and F Word star, Gordon Ramsey, has been struggling to manage his company’s debt management problems of late and has been forced to sell his flagship US restaurant.

This means he has now lost all of his US based restaurants, following the closure of his LA eatery earlier this year.

Despite cutting back on operating costs, the Gordon Ramsey At The London restaurant in Manhattan New York was running at a loss of around £3,000 a month, so he has sold it back to the owners of The London hotel while a new manager is appointed.

Gordon Ramsey personally invested around £2 million into the organisation, but has been forced into selling the flagship US restaurant whilst he is trying to restructure his business.

The chef’s spokesperson said: “In line with the restructure of the international Gordon Ramsay Restaurants, the day to day operation of Gordon Ramsay at The London NYC is now the responsibility of the hotel, who now operate the restaurant under licence from Gordon Ramsay Holdings.

“Gordon and his team will continue to provide guests with menus and service standards that are the hallmark of Gordon Ramsay.”

Earlier this year Mr Ramsay confessed that his business had nearly entered administration and once owed £7million in tax, forcing him to sell his personal Ferrari and invest heavily to stay afloat.

Only last week, four of his London restaurants were taken to court for unpaid taxes, however, the chef insisted that two of the bills had been paid, whilst the cheques for the other two were waiting to clear.

Mr Ramsey said: “The last 12 months has been a horrific time for the industry.

“When you look how many restaurants have been closing in the past 18 months on the back of this recession, it’s a great shame.”

Ivan Cooper, Chairman at debt advice experts Chiltern, said: “It’s fortunate for Mr Ramsey that he has deep pockets and can personally afford to put millions of pounds in to his business to avoid additional debt problems.

“However, many other people with their own businesses may not be as fortunate, and may struggle to maintain their finances through the recession – causing many to suffer person debt management problems as a result.

“Fortunately debt advice can be offered for free by many reputable companies such as The Debt People, Hamilton Locke and Chiltern.”

In terms of Michelin Stars, Gordon Ramsay ranks 3rd in the world behind Joël Robuchon and Alain Ducasse – unfortunately though his financial influence may not rank quite as highly.

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