Ramsay staves off administration with own cash

Gordon Ramsay has revealed he had to sell his Ferrari to help put his restaurant empire back on track.

The TV chef said that the company expanded too quickly and blamed its problems on his own ambitions.

“It’s been very painful. It’s taken several million pounds of my own money, but I’m still standing,” Ramsay told the Sunday Times.

The newspaper reported that Ramsay’s accountants even went as far as drawing up plans to put the business into administration.

He said of auditors KPMG: “It was the worst b****cking ever… They told me I was f*****.”

Gordon added: “Tenacity and ambition overtook me. We thought we could do anything, that we could not fail. We flew too high, too fast.”

The 42-year-old and his father-in-law Chris Hutcheson, with whom he runs Gordon Ramsay Holdings, sank £5 million of their own money into the company and used the cash to pay off debt and most of around £7 million in outstanding taxes.

He reportedly said of selling his sports car: “God, I loved that Ferrari.”

Gordon said he expected KPMG to give the firm a clean bill of health, marking the end of what he called ‘the worst year of my life’.

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