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26 Oct 2009
Celebrity chef Gordon Ramsay and chief financial officer Nick Fletcher are parting ways according to papers filed at Companies House.
The documents for "terminating appointment" were filed at Companies House last week and mean Fletcher is no longer a director at nearly 20 of the Ramsay companies, including Gordon Ramsay Holdings thisismoney.co.uk reported.
Fletcher is still director at five companies, three of which are overdue for filing company information, which could mean that both Fletcher and Ramsay could be liable for criminal proceedings as well as a £5,000 fine.
This time last year Ramsay was fined £1,100 for filing company accounts late
It has been a troublesome year for Ramsay, who was told by advisers KPMG to put the company into administration as it owed over £7m in taxes, broke lending agreements for a £5,000 overdraft and a £10m loan from RBS.
Other woes include a profit fall of 87%, outstanding debts to HMRC of £2.9m and suppliers of £5.5m.
Ramsay ended up pumping over £5m of his own money into the business.
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£5000 Myth
If some of these £5000 penalties were actually enforced then perhaps errant directors could be pursuaded to file accounts on time, etc etc. Everyone knows £5000 fine threat is toothless.
Posted by: Spike, 26 Oct 2009 | 00:00