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Gordon Ramsay to close restaurant after $6.8 million loss

Gordon Ramsay & Conrad Tokyo, Tokyo

What does this mean for his restaurant empire?

After fourteen years in London’s swanky Mayfair, Gordon Ramsay’s Maze restaurant will shut its doors for the last time early next year, citing revenue loss as the reason to close.

Ramsay’s holding company, Kavalake, which manages some of London’s most successful restaurants including Maze, Petrus, Savoy Grill and Bread Street Kitchen, reported a group loss of $6.8 million.

The group which has recently been hit by hard times, has only listed one year of profit since 2012, exposing the true cost of lengthy court battles including a $3 million dispute with Ramsay’s former business partner Rowan Seibel.

Despite local losses, Ramsay has had much success with expansions overseas, now with 18 restaurants in his tenure which reported a 52% rise in revenue. Plans are already underway, according to The Guardian for a Bread Street Kitchen to open in Sanya, China and four more restaurants to open in North America.

Maze is set to be replaced with a new concept restaurant come January 2019.

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