THE restaurant business owned by celebrity chef Gordon Ramsay, who recently announced a new partnership with Rangers at Ibrox Stadium, has recorded a leap in turnover during its first full year of uninterrupted trading since the pandemic began.
New accounts for Gordon Ramsay Restaurants, which operates 50 venues across the UK, Europe, Middle East and Asia, show that turnover “increased significantly” to £78.9 million in the year to August 28, up from £26.2m.
The company, which is controlled by one-time Rangers youth player Gordon Ramsay, said the group “enjoyed twelve months of uninterrupted trading in the UK, and successfully continued with its expansion strategy opening seven new restaurants during the financial period”.
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Pre-tax losses were narrowed to £1.06m from £6.9m.
The accounts note that the Gordon Ramsay portfolio includes “some of the UK’s most famous dining establishments, including the three-star Michelin Restaurant Gordon Ramsay, the one-star Michelin Petrus, three restaurants at the iconic Savoy Hotel and Lucky Cat by Gordon Ramsay in Mayfair”.
Those are supplemented by a range of casual dining restaurants, which include eight Bread Street Kitchen venues in London, Edinburgh, and Liverpool.
Writing in the accounts, directors note the company’s super-premium restaurants – Restaurant Gordon Ramsay, Petrus, Savoy Grill, and Lucky Cat – “traded profitably, and two additional restaurants within the Savoy Hotel opened during the period.”
The new additions, Restaurant 1890 by Gordon Ramsay, named after Georges Escoffier, who joined the Savoy Hotel in 1890, and The River Restaurant by Gordon Ramsay, showcase the “highest quality shellfish and seafood that can be sourced in the UK”, the directors add.
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Within the company’s premium casual business, the directors state that the firm plans to expand the Bread Street Kitchen & Bar brand “more widely across the United Kingdom, and there have been notable openings after the period end in Battersea Power Station (November 2022) and a refurbished restaurant in Limehouse, East London where the Narrow opened as Bread Street Kitchen on the River (December 2022).
“In the casual dining category, the group added two Street Burgers, one in Reading (September 2021) and in Farringdon (April 2022)”.
The company opened its inaugural Gordon Ramsay Academy in Woking, Surrey, in September 2021, and revealed it was looking for “suitable locations in Edinburgh” as it looks to roll-out the model, stating that directors “view this as a scalable asset both in the UK… and internationally”.
Outside the UK, the company continued to expand, with new outlets opening in Seoul, Dubai, Kuala Lumpur, and at Hamad International Airport in Qatar.
The group has 36 of its restaurants in the UK, and 14 licensed locations across Europe, the Middle East and Asia.
Directors state: “The group remains committed to and on course with its growth strategy both in the UK and internationally.
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“A fully refurbished Savoy Grill is due to open in late April 2023 following an eight-week closure, and a second Lucky Cat restaurant is scheduled to open in Manchester in May 2023.
“Internationally, new restaurants including Street Burger, Street Pizza and premium casual concepts will continue to form a significant part of the licensed estate’s expansion.”
Last week, Rangers Football Club and Gordon Ramsay announced a partnership which will see the chef put his name to a menu at the new Blue Sky Lounge at Ibrox Stadium. The menu will feature a range of Gordon Ramsay signature dishes.
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