Ramsay Holdings Full-Year Loss Almost Doubles Following Expansion to U.S

Gordon Ramsay Holdings International Ltd., the company that groups the U.K. television chef’s newest restaurants, almost doubled its loss in fiscal 2009 following his troubled entry into the U.S. market.

The net loss for the 12 months ended Aug. 31, 2009, widened to 8.32 million pounds ($12.9 million) from 4.32 million pounds a year earlier. One-time costs climbed to 5.81 million pounds from 849,510 pounds as the company wrote off the investment in venues in New York, California and Florida. The operating loss narrowed to 2.45 million pounds from 3.47 million pounds.

Read More: