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Gordon Ramsay debt: Spokesperson denies reports of massive debt

Is Gordon Ramsay in debt? New reports surfaced this week that the chef and host of several reality television shows was in massive debt. Just how massive? It was reported that the chef's company owed $50 million to creditors. There is more to this story though. Reality TV World reported on Ramsay's alleged financial troubles on Aug. 7.

Gordon Ramsay is not in debt, according to spokesperson.
Photo by Ethan Miller

Initial reports of Ramsay's troubles came from Radar Online. The site reported that the holding company that handles Ramsay's business operations in the U.K., Kavalake Holdings, was $50 million dollars in debt. The chef owns 12 restaurants in the U.K. alone. Ramsay also owns several restaurants in the U.S., Italy, and France. Ramsay's spokesperson was quick to deny the reports about the financial troubles though. The chef is not in debt. The spokesperson released the following statement to Reality TV World about the debt claims:

"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."

This is not the first time reports surfaced about Ramsay's financial status. Reality TV Magazine reported that similar claims were made several years ago about the chef and his company. The claims did not stop Ramsay from moving forward though. The chef has several cooking reality television series, and he is now lending a hand to hotel owners with "Hotel Hell." "Master Chef" and "Hotel Hell" currently air on Monday nights on Fox. The chef is also working with his daughter to bring her own cooking show to the small screen. She is 12 years old.

On screen, Ramsay's tough and no-nonsense approached earned him fans, but his assistance is not for everyone. Web Pro News reported that 60% of the restaurants featured on "Kitchen Nightmares" have closed since their appearance. Ramsay decided to pull the plug on the cooking series after seven seasons on Fox earlier this year.

That is not a sign of trouble for Ramsay though. It is clear Ramsay is doing well with the addition of "Hotel Hell" and the plans for his daughter's cooking show. Entertainment Tonight reported that the chef is worth $118 million. That does not sound like man who is in debt, does it?

Ramsay might be tough on screen, but his family sees a different side to the chef at home. Ramsay and he wife of 18 years, Tana, recently did an interview together, and his wife shared some about the man she knows behind the camera. She said the following:

"He can be very romantic. He's very thoughtful ... sometimes When it comes to the kids, he's a total pushover, especially now that they're teenagers. Anything I say isn't suitable."

This sounds like a very different man than the one fans see on television weekly. What do you think of Gordon Ramsay? Do you think the chef is in debt? What do you think of his latest offering on Fox? Have you been watching "Hotel Hell" this summer?