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Celebrity chef is bankrupt

Published on 29 May 2009 under category: legal

Celebrity chef John Burton Race has declared himself bankrupt, with the Insolvency Service claiming he took the measure in March this year.

The chef, who has appeared on a number of TV cooking programmes, such as Britain's Best Dish, closed his Dartmouth-based restaurant the New Angel in November 2007, with reported debts of more than £1 million.

Mr Burton Race's assets have been frozen and his creditors will have to apply to an insolvency practitioner if they wish to be paid.

He had owned the eatery since 2004, when he bought it for £500,000, and is currently employed as its head chef.

His ex-wife Kim declared herself bankrupt two months ago over an unpaid builder's bill of £15,000.

According to data released by PricewaterhouseCoopers earlier this year, restaurants accounted for 45 per cent of all business failures in the hospitality sector in the final quarter of 2008.

It was noted that a third more eateries went bankrupt last year than in 2007, suggesting they are being severely affected by the recession.