Gordon Ramsay takes advantage of government-backed loan scheme to save restaurant empire shuttered by the lockdown
- The TV chef, 53, has registered charges with Barclays against 16 companies
- He will take advantage of government’s Coronavirus Interruption Loan Scheme
- The companies are eligible for up to £5million of emergency loans each
- Here’s how to help people impacted by Covid-19
Gordon Ramsay has taken out loans to shore up his restaurant empire which has been shuttered by the coronavirus lockdown, it was revealed last night.
He has registered charges with Barclays against 16 companies, which includes those managing some of his Michelin star outlets, according to the Sun.
The TV chef, whose eye-watering personal wealth is estimated at almost £200million, will take advantage of the government’s crisis loan scheme, Companies House papers show.
The companies are eligible for up to £5million of emergency loans each, providing they convince lenders they will weather the pandemic and revive their ailing profits.
Gordon Ramsay has taken out loans to shore up his restaurant empire which has been shuttered by the coronavirus lockdown, it was revealed last night
He has registered charges with Barclays against 16 companies, which includes those overseeing some of his Michelin star outlets (Gordon Ramsay restaurant in London)
Ramsay’s move to secure loans will provide a lifeline to companies which manage some of his flagship eateries, such as London’s Savoy Grill and Petrus.
Chancellor Rishi Sunak, who masterminded the Coronavirus Business Interruption Loan Scheme, has allowed small and and medium-sized businesses to access rescue money of up to £5million.
Under the scheme, the government guarantees of 80 per cent of finance to the lender and pays interest for the first 12 months.
The beleaguered hospitality industry has been hit hard by the pandemic, with pubs and restaurant across the country – many with lofty overheads – forced to mothball.
Financial woes led Ramsay to lay off 500 employees in March, with no guarantee their jobs would be safe in the future.
Ramsay, 53, has grabbed headlines throughout the lockdown after he had his wrist slapped for flouting lockdown rules Pictured: The TV chef with one-year-old son Oscar
Chefs, waiters and other staff were called to a meeting and told their contracts were being terminated – rather than being furloughed on 80 per cent pay.
It triggered a wave of anger, including from chef Anca Torpuc who at the time branded the celebrity chef a ‘piece of ‘s***’ for his decision.
Ramsay, 53, has grabbed headlines throughout the lockdown after he had his wrist slapped for flouting lockdown rules.
The coastguard reportedly issued the father-of-five with an official warning after he was seen in Rock, Fowey, Port Isaac and Newquay – some distance from his £4million home in Trebetherick.
MailOnline has approached Ramsay’s representative for comment.