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Is Gordon Ramsay Really $50 Million in Debt? His Rep Says... (VIDEO)

Credit: AOL

The host of Kitchen Nightmares and Hotel Hell might be facing a hellish nightmare of his own… if you believe Internet gossip. The rumor mill is working at full speed over reports that Gordon Ramsay is $50 million dollars in debt with his restaurant biz. But this chef would likely recommend a grain of salt for that dish. Read on…

On August 6, Radar Online published corporate documents that seem to show that Kavalkade Holdings — the umbrella company for the 47-year-old's businesses — had an operating loss of around $11 million dollars for the fiscal year ending in August 2013, just over $7 million cash available, and $50 million of debt due.

But a rep for Gordon refuted the claims, saying, "This is an inaccurate interpretation of the public filings that were reported widely in the media back in May, and any claim that the company is anywhere near bankruptcy is ludicrous.  It is standard for the head of the company to deliver loans to expand the business and ensure experiences remain first class, and the Gordon Ramsay Group continues to deliver a strong performance, with growth year on year."

You can try to make sense of the documents for Kavalkade Holdings and for Gordon's subsidiary, Gordon Ramsay Holdings Limited, at Radar — we feel like we need an accountant just to sort it all out! — but we're thinking that Gordon may not be as, ahem, fried as the web is making him out to be.

Source: Radar Online

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