From the Daily Mail: Gordon Ramsay has lost his final US restaurant as he battles to keep his multi-million pound empire afloat.
Despite cutbacks, the Gordon Ramsay At The London restaurant in New York was losing almost £3,000 a month.
And the Michelin two star establishment has now been sold back to the owners of The London hotel in Manhattan while a new manager has been appointed. It follows the closure of his Los Angeles eatery earlier this year.
The 42-year-old chef had personally invested around £2 million in the enterprise, but was forced to sell the restaurant as he attempts to restructure his business.
A source said: 'Gordon has handed the restaurant back to the hotel, he is still acting as a consultant, but he doesn’t own it.
'He has been open about having to restructure his business, but he had become far too stretched.'
A spokesman for the chef told the Mail: 'Gordon enters his fourth year at The London NYC with the same enthusiasm and passion that has established his reputation and presence in this city of many challenges.
'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.
Sold: Ramsay's The London Bar in the London NYC Hotel in New York
'Gordon and his team will continue to provide guests with menus and service standards that are the hallmark of Gordon Ramsay.'
Ramsay ranks 3rd in the world in terms of Michelin Stars behind Joël Robuchon and Alain Ducasse.
His television show the F Word is losing its lustre too, being relegated to a late night slot on Channel 4 after losing viewers.
The US blog site Eater, which obtained a copy of the letter sent to suppliers said: 'He is currently being sued by vendors for upwards of £60,000.
'Thus, it's not a huge surprise that economic realities have led Gordo to transfer ownership of the sinking ship to the restaurant's hotel, as he did earlier this year in both Paris and LA.'
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