Home Business News Gordon Ramsay to close this Mayfair restaurant after £3.8m loss

Gordon Ramsay to close this Mayfair restaurant after £3.8m loss

by LLB Reporter
17th May 18 4:00 pm

Heading for kitchen nightmare?

Celebrity chef Gordon Ramsay’s restaurant empire, which includes Savoy Grill and Petrus, has gone into the red amid weaker sales and an ongoing legal row in the US.

The group also announced that Michelin-starred Maze, based in the London Marriott hotel in Grosvenor Square, will close in January 2019 and a new concept will take its place later that year.

Holding group Kavalake reported a loss of £3.8m for the year to August 2017. While revenues rose at its 18 internationally licensed locations, overall the group’s turnover was lower.

Business was majorly hit by an ongoing legal dispute with a partner in Los Angeles. The company, however, maintained that it continues to be on the expansion trail, with five new venues this year.

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]