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Gordon Ramsay Holdings denies financial difficulties

26 January 2009 by
Gordon Ramsay Holdings denies financial difficulties

Gordon Ramsay Holdings (GRH) has denied reports that it faces financial difficulties, after it was claimed the troubled Royal Bank of Scotland (RBS) is recalling a £10m business loan.

Gordon Ramsay Holdings (GRH) accounts for the year ending August 2006 show RBS, which last week unveiled the biggest loss in British banking history, provided the group with an overdraft and loans facility worth £10.5m.

Reports over the weekend quoted "financial sources" who suggested that RBS has made enquiries about calling in the loan.

The news comes after it emerged last week that GRH faces the prospect of an embarrassing court case after flouting the law on filing its accounts for two years running.

Companies House, which has already fined GRH £1,500 for being five months late with its accounts, has reportedly started steps to prosecute the group.

However, a spokeswoman for GRH denied there was any truth in the allegations."The reports over the weekend were completely inaccurate," she said.

"These allegations are untrue. With regards to Companies House they have no plans to prosecute."

Last week GRH was forced to deny that two of its London restaurants are to close.

Rumours began circulating after the Devonshire gastropub, in Chiswick, and Knightsbridge private dining room Sloane Street appeared in the "for sale" section on the website of property agent Restaurant Property, on Wednesday (21 January), only to be removed hours later.

Despite being removed from the website, a number of media outlets reported that the pub and restaurant were for sale, prompting GRH to issue a statement denying it was closing Sloane Street or the Devonshire.

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By KerstinKühn

E-mail your comments to Kerstin Kühn here.

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