Gordon Ramsay yesterday admitted he was pulling out of another of his luxury restaurants but denied the credit crunch was threatening his global business empire.

A spokeswoman confirmed rumours the celebrity chef had stepped down from day-to-day involvement in the Maze restaurant in Prague's Old Town Hilton, though she denied reports that the company, Gordon Ramsay Holdings, was £10m in debt.

The firm is behind in its accounts for a second year running, and Companies House yesterday said financial penalties had already been incurred on the 2007 books.

Ramsay's spokeswoman said the accounts, already six months late, would be filed "imminently", but a fine of £1500 has been levied for the tardy return.

Last year the business was charged for delivering its 2006 accounts more than 12 months late, Companies House said. The chef's spokeswoman, however, claimed she was not aware of any fine having been paid.

Two other premises, both of them in London, have already been put up for sale by the 43-year-old chef.

Yesterday his spokeswoman said: "Gordon Ramsay Holdings and the owners of Hilton Prague Old Town have mutually agreed to a change in their business relationship.

"Day-to-day running of the food and beverage operation will pass back to the hotel management with Gordon Ramsay Holdings offering support with regard to menu planning."

She did not know the reason for the split and representatives of the Hilton refused to discuss the matter.

When Ramsay opened the restaurant in the Czech capital in 2007 he had hoped to win another Michelin star. The Scottish chef is already the third most-decorated chef in the world, with 14 of the coveted stars to his name and a chain of 25 prestigious restaurants scattered around the globe.

Rumours have swirled around the culinary world that Ramsay will make similar withdrawals from a number of his other restaurants, including branches in Los Angeles, Paris and Florida.

However, his company spokeswoman strenuously denied speculation, saying: "The restaurants are actually doing very well, considering the economic climate. Bookings are up." Star attractions Gordon Ramsay, one of the world's most decorated chefs, has 25 high-end venues to his name. The gems in his crown include: Restaurant Gordon Ramsay. Three Michelin stars have raised this flagship restaurant to heights matched only by its prices. Verre. Mr Ramsay's first venture outside the UK, the Dubai restaurant tapped into the Middle Eastern resort's growing popularity with the international jetset. Petrus. This double Michelin-starred restaurant is in the Berkeley Hotel in London. Plane Food. This informal venue at Heathrow's Terminal Five has sought to revolutionise airport catering with a luxurious flair.