Profits off the menu at Ramsay’s restaurants

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Gordon Ramsay’s restaurant group, which includes the Savoy Grill and Petrus, it was burned down by a decline in sales and plans to close the Maze, in Mayfair, London.

Holding company of the group Kavalake reported a loss of £3.8 m for the year to August 2017.

While revenues increased to 18 at the international level with licensed locations, on the whole, the turnover of the group was lower.

The Business was hit by five months of closure of his Plane Food in Heathrow and in a legal dispute with a partner in Los Angeles.

As well as the most high profile up-market restaurants, the group owns casual restaurants including Bread Street Kitchen, Heddon Street Kitchen, London House and Union Street Cafe.
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The mid-market, dining room sector has seen a wave of closings this year, including the Byron chain of burger and Italian outlet Price and Jamie’s Italian, as consumer spending faltered.

Michelin Maze, with headquarters in London Marriott hotel Grosvenor Square, closes in the month of January 2019 and a new concept developed for the site opening in the course of the year.

The group said that the 1% decline in total sales, was in large part to the temporary closure of the Food Plan at Heathrow’s Terminal 5, which has now re-opened and is performing “ahead of expectation”.

The loss, which followed a profit of £102m in 2016, was also caused by a £1.75 m legal bill relating to the business of Los Angeles-based the Fat Cow restaurant that closed its doors in 2014.

A long legal dispute between Mr. Ramsay and his father-in-law was finally resolved last year.

However, today, the group is expanding overseas, opening a further five international locations, including its first point of sale in China, Bread Street Kitchen, Sanya, and a new “concept”, the restaurant of Hell’s Kitchen to Las Vegas.