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After a Year in Which His Global Restaurant Empire Almost Went Gordon Ramsay's After a year in which his global restaurant empire almost went bankrupt, the bad boy of British cuisine is serving cheaper cuts of meat and focusing on the richer rewards of TV stardom. By WILLIAM GREEN Photograph by PHIL RISK n a gray morning in October, Gordon Ramsay bursts into the kitchen of his south London house, pop music blaring from the radio. At the heart of the room stands a 67,000 pound (Sill,000) French cooking range that weighs 2.5 tons and had to be lowered by crane into the celebrity chef's home. Ramsay, who is 6 feet 2 inches (1.88 meters) tall and weighs 215 pounds (98 kilograms), is wearing jeans, a tight black T-shirt that accentuates his muscles and a Bell & Ross watch—a Swiss brand marketed to soldiers, bomb-disposal experts and other "men facing extreme situations." The 43-year-old Scot pours himself a juice, sits at the Idtchen table and looks back on his own extreme situation: a year in which his global restaurant empire al most went banlmupt. In the fall of2008, his London-based father-in-law, Chris Hutcheson. In late Gordon Ramsay Holdings Ltd. breached December, Ramsay says, KPMG recom the covenants on a £10.5 million loan mended that the company declare bank and overdraft facility from Royal Bank of ruptcy, fire hundreds of people and close Scotland Group Pic. The bank hired all but its best-performing restaurants. talking with Hutcheson about how to save KPMG to perform an independent re "Everything was on the line," he says. their business. The stress was so intense, view of the firm, 69 percent of which is "December, January, February and March he says, that he'd go for runs in Malibu at owned by Ramsay and 31 percent by his were the most highly pressurized, s—tiest, 4:30 in the morning, wearing a black vest most awful four loaded with 20 kilograms of weights. "I months I've ever just ran and ran and ran," he says. had in business." For Ramsay, bankruptcy was unthink Ramsay was in able even if it made financial sense. Hollywood for "There was no f—ing way that was ever most of the first 12 going to happen," he says. "That was w e e k s o f 2 0 0 9 never even an option." shooting the U.S. Ramsay's fame would have made it the version of Hell's most public of failures. "He's one of the Kitchen, the reality great chefs," says Jean-Luc Naret, Paris- show he fronts for based director of the Michelin Guide se t h e F o x n e t w o r k . ries, which awards the stars that are the After a day of film Oscars of the food world. Restaurant ing, he'd often be Gordon Ramsay at Royal Hospital Road on the phone for is London's only dining spot with three hours at night. Michelin stars. In all, Ramsay boasts 12 64 BLOOMBERG MARKETS jANUARY 2010 sxaxuvw ouaBMooia oioz ^uvnNvl 59 9003 siq ui 'puBiSua 'uOAy-uodn-pjoj 'XBpox •S0861Ul uoisiASpiSuiujoui paiBjauaS aAsq—saSsnSuBi gl oiui -aBJaS PUB pUBpODS 'MOSSBIO UI jood "STl uo SuuBoddB uBSsq oqM 'qonj SubS paiB[SUBJi uaaq aABq qaiqM—sqooq siq dn MSiS sq 'j34oqBi Xap b sb paqaoM oqM -jjoAV J3q3 ujoq-UBUisnv sXbs ^/Xxos puB 'uBas>looa uaspiN oi Suipaoaav "sqooq UBioisniu psiiBj B JO uos sqi 'diqspjBq IEuouBU49aui XqBaj uoissajojd jno spBui -^OOD £2 01 auiBU siq luai puB saiqdBoSo 01 asSuEJlS OU 'iSBSj IB 'SBM^BSUIBa uoisiAspi,, -qooD XpjBqXaqi isqi sisa -iqoinB OAM paqsqqnd osp SBq Xbsuibh •oiBiOd OAVL oiBiOd 3UO psR^^ XuEduioo -J31UI sssuisnq pBuXm qons qiiM sjaqo •uoiqiui 6g aiq auop SMoqs "STl uio.ij saaj uoponpojd B Ul JSUWBd s/bsuieh puB Xauqspo JO UOUBJ3U98 B JO pjBnSuBA luajBi s/bsuibh sXbs uosaqainn '6003 uiBO^oad sqi jo jsonpoid 'uXnaMsn ibj sqi IB Xbsuibh psDBid SBq siqi jo qv UI -soupanddBD iqiui-iSBajq SuiiBaia sXbs ,/adruquBq oS oi noX joj sssssuisnq •SaU3UJ3S40pUS IU04J4B3X papnpui aABq sapuqapa qiLW saarauaA jpqj xq oi Moq uo sidosd SuisiApB puB B uoiqiui £5 inoqB ssqEUi Xbsuibh sXbs -pB XjBuiina siq qoiqM ui 'puoyvi j 3m puB S9uvuc}i{SiM paqBo Moqs b Suiipui uosaqomH "uio s.uopjoo joj uEuiqoiid S3uvmm§ii^ ii3ip}i){ s/vsmv^ luoaj XqB sa.noX ji iBSoS lou spi„ •sauBJUBasoj s.ajd "MTl spld oaSBia spq puB 'uoiinoQ JbXoh -nuuB uoiqiui Z3 UBqi aioiu siuEa aq ''XTl -ood jsqio JO Jov\ES b sb uiiq sssBOAVoqs Xq Xbsuibh uopjoo sb pspusjq Buiqo puB aqi UI 'uopaajjad jo imsjnd ui sinoqs S3^27uqi/S|iN ssnBOoq 3uissbj S3SSE[§ 'suBd 'siod sasjopus osp Xbsuibh puB sjBaAvs oqMjaqa jaiSBui b sb oSb -jBquia XqBpsdss sbm siqa 'Xbsuibh JOj •suop saps -ji-fi u! uoqqui sZi isouip -uii siq paaiojupj iBqi SAVoqs aI, 9^9 ui pajjBis osp aH "oXqox puB anSBJd 'suBd 'qjoAAiaM 'reqna sb piaqBJBj sb siubj -riEisaj 03 inoqB pBq Xbsuibh '6003 ^9 •(8t) ossBona uiBivpuE (S3) uoqanqoH pof uauiqauaid Xq X]uo passBdjns 'sjbis „qiEj pjnoMSuiqiouiBqi aauapquoa qonui 001 qiiM sn JO luo^ ui sifsu Xubui ooi ind PPM "Xsuinp aiaM aA\„ -sSuipiOH Xbs -uiBH uopioo JO jaagjo aApnoaxa jaiqa '19 'uosaqamH sXbs „'Xaianiun i.uaiaM •sauBiBS 01 luai uioij SuiqiXiaAa aoj ^ooq aqi uo SBM puB siUBjnBisai sii jo qB isoui -p pauMo XuBduioa s/bsuibh "uopBiado aqi uru puB nuaui b aiBaia 'sjaqa apiAoid Xaqi qaiqAV lapun spap Suppsuoo uSis Xaqi 'pBaisui pqSuino siuBiuBisai ipqi fSPn?% -ly.- UAVO luopps uoqanqoH puB assBona siqi sjaqa auiBu-puBig 'Suipuadsadsjiaqiina Jiaqi ma sia -uip SB pasodxa XpBpiaiiJBc r--^r SBM pUB 8003 UI SlUBJUBlSai"AX iqSp pauado aH "pauadaap uoissaaai pqo]3 aqi sb isnf aaaNVdxa anidwa s.avswvQiw ■ — •qiOA MaM 'ijiBd apXn Ul EDuauiv JO aimpsui XjBuip3 aqi ib uadxa SupaqiBui luBinBisai b 'aiXojqno qig sXbs ,/Xioisiq uijaqa paauBqua -Bipaiu isoui aqi sdEqiad spH» 'uoq Hi; "liui 0S3 3B 8003 ipdy ui paiBuiiisa S3iuix Xvpuns s^uopuoq iBqi aunuojBSuissBuiB UI AJ, uo pasnaoj SBq 'ooi 'Xbsuibh •saauBiiddB puB aiBA^ooa jo saps ui jBaX B uoiqiui Qgg saiBiauaS aq sXbs puB siUBinBisai 06 UBqi aioui SBq 'o9 'iiand autobiography, Humble Pie (Harper), he features lighter sauces using less butter describes his late father, also named Gor and cream. "He took classic French cook don, as a wife-beating alcoholic and thief, ing and modernized it," Hartnett says. whose favorite punishment was to thrash Friends say Ramsay is hard-wired for the back of his son's legs with a belt. Ram perfection. "If he were in a line of washer say's mother, Helen, raised their four uppers in a prison, he'd want to do it the children, baking bread when she couldn't best and fastest," Llewellyn says. afford to buy it and cooking them dishes Aubergine won two stars in 1997, and such as ham hock soup or sausages and Ramsay decided he deserved more than beans. His father'sview, Ramsay writes, the 25 percent stake its owners had given was that "only poofs cook." him. Ramsay quit, triggering a lawsuit for A knee injury wrecked Ramsay's breach of contract that the parties set dreams of a soccer career. So he stumbled tled out of court. into a hotel management course before Ramsay had just married a school taking a series of junior cooking jobs. teacher, Tana Hutcheson, with whom he now has three daughters and a son be N 1989, HIS fascination with tween the ages of 7 and 11. Tana's father, haute cuisine was awakened at Chris, who owned a printing company, Harvey's, a London restaurant risked £1 million in cash and loan guar run by Marco Pierre White, the antees to bankroll the Royal Hospital first British chef with three Mi- Road restaurant in 1998. He and Ramsay chelin stars. Ramsay then moved to have been partners ever since, and their London's top French restaurant, Le bond goes beyond business. "He's my Gavroche, as an apprentice chef. Mi son-in-law but, actually, he's my son," chel Roux Jr., now its head chef, says Hutcheson says. Ramsay was arrested in his first week The Royal Hospital Road restaurant, after jumping over a London under with signature dishes like lobster ravioli ground turnstile to avoid the fare. in a lemon grass and chervil sauce, won While Roux says Ramsay was un its third star in 2001. By then, Ramsay ruly, he made up for it in the kitchen. was as famous for his temper as his cook "He was beautiful to watch," Roux ing. A British TV documentary called Boil says. "He's a very naturally gifted ing Point showed him spitting out food chef. He has the taste, the eye of an and firing a waiter for serving the wrong artist, the efficiency, and he's ruth appetizer. Ramsay even ejected restau lessly hardworking." rant reviewer A. A. Gill—along with his Ramsay spent three years in guest, actress Joan Collins—for criticiz France, including a stint with ing him in print. "I've become more ma Robuchon, where he mastered the ture," Ramsay says now. "I wouldn't say essentials of French cuisine. Then, mellow. I still get incredibly frustrated." in 1993, he became head chef at Many employees defend him, saying Aubergine in London. "He was an he's generous and loyal. "He's definitely animal, a monster; he was horrible," says not malicious," says Josh Emett, head Angela Hartnett, who worked with him chef at Gordon Ramsay at The London in there.
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