Winding up petition - winding up order - free advice for business owners

7
Dec

HM Revenue & Customs applied for winding-up petitions for Mr Ramsay’s Maze restaurant in Grosvenor Square, London, Plane Food at Heathrow Airport, The Narrow in Narrow Street, London, and the Restaurant Gordon Ramsay in Royal Hospital Road, London.

But the judge, Mrs Registrar Derrett, immediately dismissed two of the petitions, against the Narrow Street and Hospital Road restaurants, on the grounds that the debts had been paid, and adjourned the other two petitions after hearing that the companies had already made arrangements to pay their debts.

She adjourned the petition against Gordon Ramsay Plane Food Ltd for 14 days, after hearing that time was needed for a cheque to clear, and the petition against Gordon Ramsay (Maze) Ltd for 63 days. Mr Ramsay did not attend court for the brief hearing.

Earlier this year Mr Ramsay denied his global business empire was £10 million in debt as a result of falling bookings during the recession.

But he has cut his losses in recent months by selling two of his London premises and pulling out of a third venture in Prague.

Sources close to the chef said he had been "surprised" at the Revenue’s actions, given that he had already made arrangements to pay them the money his businesses owed.

A spokesman for Mr Ramsay said: "In the summer Gordon Ramsay Holdings announced a restructuring of the businesses’ finances following short-term cash-flow problems.

“The company announced it was repaying debts, but it would be a process that would take several months. In the High Court this morning the judge accepted this was the position and dismissed two of the petitions on the basis the debts had been cleared.

“She also gave GRH further time to settle the other two debts. In one case a cheque cleared this afternoon and in the other we are in the process of settling the account in two payments by December 11."

A spokesman for HMRC said: "We cannot comment on the tax affairs of individual businesses under any circumstances.

"Our aim is not to wind up companies but to collect, as efficiently as we can, the debts that are due. HMRC only initiates winding up or bankruptcy action where it believes this is the best course of action to protect the interests of the Exchequer in respect of a particular debt."

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