Gordon Ramsay announces Maze to close

Angelo Anderson
May 17, 2018

Kavalake and its subsidiaries operate 14 London restaurants, including three-Michelin-starred Restaurant Gordon Ramsay and Petrus, and hold licence agreements for 18 restaurants around the world.

Celebrity chef Gordon Ramsay's restaurant empire has posted a £3.8m pre-tax loss on the back of a restaurant closure and an ongoing legal row in the US.

Revenue from the group's worldwide operations, which has licence agreements for 18 restaurants around the world, rose 52% year on year to £5.4m.

Siebel was Ramsay's former business partner in their Los Angeles restaurant Fat Cow shut in 2014.

Mr Ramsey's sales were impacted by a five-month closure of Plane Food, the chef's Heathrow Terminal 5 operation.

Kavalke has only reported a profit once since 2012, the latest report shows United Kingdom revenues down, but global operations report seeing increased licensing revenues of £5.4m up 52%.

The company said it continues to be on the expansion trail, with five new venues this year, including a Bread Street Kitchen in Sanya, China, and four other restaurants in North America, including a new concept in Las Vegas called Hell's Kitchen, which opened in January.

Maze, which is housed in the London Marriot Hotel Grosvenor Square, opened in 2005 and lost its Michelin star in 2015 after nine years.

The company continues to "actively look for new restaurant locations both in the United Kingdom and internationally", despite the wider malaise in the sector.

A new 10-year lease has been signed for site, which is also home to sister restaurant Maze Grill.

Other reports by Iphone Fresh

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