Gordon Ramsay Restaurant Group, an empire that spans several continents, is reportedly suffering huge losses. Among the 35 UK restaurants that Ramsay runs or has a stake in, along with the 13 global eateries that operate under a licensing with his restaurant group have suffered a loss of roughly $8 million, pre-tax.

Ramsay’s financial troubles began when COVID-19 led to lockdowns and brought the restaurant industry to a standstill two years back — the group suffered a loss of $80 million between March 2020 and February 2021. In fact, the bookings worth $14 million in Ramsay's restaurants were “wiped out overnight” when the lockdown was reimposed.

Apart from the £6.84 million loss because of lockdown restrictions and rising inflation, the group also had to let go of 300 staff members. The highest-paid director had to take a pay cut of about $190,000 from the previous year, and the soaring food and energy prices will present more challenges in the coming year.