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Downturn caused 'personal nightmare' for Ramsay

Published on 14 Aug 2009 under category: legal

Gordon Ramsay has revealed that he has stared bankruptcy in the face during the economic downturn.

The controversial TV chef told Fox News that the recession has been "tough", insolvency solicitors may be interested to hear.

He commented: "I faced bankruptcy. Heading out of [the] global economic downturn has been tough. Customers just disappeared. Those that were in the restaurants weren't drinking wine. All were on tap water."

Mr Ramsay added that his restaurants were hit with a "huge downturn" from Monday to Thursday, with running costs remaining the same.

He told the US TV show that this resulted in him having a "personal nightmare", however, he added that the downturn has also been "a breath of fresh air", bankruptcy solicitors may be interested to hear.

In other news, German fashion label Escada has filed for bankruptcy, after earlier this week revealing that it was making plans to take this action.