Gordon Ramsay seeking to sell stake for expansion drive

Gordon Ramsay is considering selling a 50% stake in his business to fund its expansion.

According to the Sunday Times, the chef is working with advisors BDO to establish potential investors. It said a deal was likely to value the company at £80m.

The Gordon Ramsay Group is to open its latest restaurant, Heddon Street Kitchen, next week. It will be the group's 13th London site, with 232 covers across three floors.

The group has ramped up its expansion since staving off administration in 2009. Last year its holding company, Kavalake, made pre-tax profits of £5m on a turnover of £45m.

Ramsay has opened a number of new restaurants this year, including taking his Bread Street Kitchen concept to Hong Kong and opening a number of venues in Las Vegas.

He has also bought the site of former restaurant Aubergine in Chelsea, which is expected to open next year as Park Walk.