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Gordon Ramsay Holdings dodges Icelandic bank meltdown

10 October 2008 by

Restaurant group Gordon Ramsay Holdings was among the many UK companies and local councils that invested their money in Icelandic bank accounts.

The company, which operates most of celebrity chef Gordon Ramsay's UK pubs and restaurants, confirmed to the Evening Standard that, until recently, it banked with Kaupthing Singer & Friedlander, the UK offshoot of the Icelandic bank.

It told the newspaper: "Gordon Ramsay Holdings would like to clarify that the company moved all of its corporate banking from Kaupthing Singer & Friedlander to The Royal Bank of Scotland 10 weeks ago."

Iceland's banking system went into meltdown last weekend and Kaupthing Singer & Friedlander and Glitnir have since been nationalised with rival Heritable Bank, which was part of Landsbanki, placed into administration.

Last week it emerged that Gordon Ramsay Holdings could face prosecution for failing to its file accounts on time.

The group, which was meant to file its accounts at the end of June last year, has been threatened with a court case by government registry Companies House if the papers aren't filed within the next week.

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By Kerstin Kühn

E-mail your comments to Kerstin Kühn here.

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