http://news.scotsman.com/latestnews/Credit-crunch-Ramsay-finds-a.5045759.jp

GORDON Ramsay was embroiled in a new controversy yesterday as it emerged that his restaurant empire had flouted banking agreements.


The Scottish chef's financial troubles took a new twist as it was revealed his company had breached financial covenants – promises made to lenders to secure a loan.

The firm, Gordon Ramsay Holdings (GRH), has been forced to renegotiate a £10.
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5 million loan and overdraft facility that was agreed only last May.

Its latest accounts – which cover the year to 31 August, 2007, and have been posted eight months late – reveal that the company's overdraft was previously renegotiated from £4.56 million to £6.13 million.

Despite increasing turnover by 9.1 per cent to £41.59 million and notching up a £3.28 million profit, suppliers are owed almost £5 million, while £1.67 million of corporation tax is also owed.

Ramsay's turnover and profits are expected to be hit during the current financial year due to the impact of the global economic downturn.

Ramsay and Chris Hutcheson, the GRH chief executive who is also his father-in-law, have had to make personal pledges to help the company pay its debts if necessary.

Ramsay hit the headlines earlier this year when it emerged that he had failed to submit his accounts on time for the second year in a row.

He was also forced to deny that his business had been crippled by the credit crunch and rebuffed claims that he was saddled with £10 million worth of debt. At the weekend, he admitted that he might have exaggerated his football career with Rangers.

Ramsay, best known for TV shows such as Hell's Kitchen and The F Word, is thought to be the highest-earning chef in the world. Born in Renfrewshire, he is believed to earn up to £15 million from his 11 restaurants, books, TV work, guest appearances and product endorsements.

The chef avoided the fallout from the collapse of the Icelandic banking system by refinancing the £4.2 million his company owed its previous bank, Kaupthing Singer & Friedlander, and setting up a new overdraft and loan facility with Royal Bank of Scotland.

However, this was secured against the present and future assets of the company and came with "personal guarantees" from the directors.

In a note with the accounts, GRH states: "The group has breached some of the financial convenants within the facility and, therefore, the group has commenced renewal negotiations with the bank."

The accounts said the group "has held discussion with its bankers about future borrowing needs and is looking to agree terms in this connection" and that "discussions are progressing positively".

They added: "The directors have a reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future."

Richard Harden, the co-editor of Harden's Restaurant Guide, said: "These accounts do not reflect what is going on now."

Ramsay pulled out of a restaurant in Prague this year, while two of his London outfits were also put up for sale. He has eateries in New York, Los Angeles and Florida. This week, he was awarded two Michelin stars for a restaurant in Versailles, France.

Cielo Boca Raton

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http://www.starchefs.com/chefs/rising_stars/2008/south_florida/bio_roberto_colombi.shtml

 Sommelier Roberto Colombi
Cielo | Boca Raton


Biography

Wine wunderkind Roberto Colombi, barely 25 years old, started his career at age 14 in a local restaurant in the province of Bergamo, Italy, called Abacanto. His uncle was both the restaurant manager and sommelier, and Colombmi got right to work, tasting wines and tagging along on trips to wine fairs and cellars around Northern Italy.

After working and traveling through his early teenage years, Colombi went to hotel school in Darfo Boario Terme in Crescia, Italy. He completed his diploma in 2000, at age 18, and continued working in wine at his family’s restaurant, Le Terrazze, joining the Associazione Italiana Sommelier in 2002. Colombi worked at Antico Albergo, a traditional Italian restaurant in Milan, before joining Gualtiero Marchesi at his 2 Michelin Star Restaurant in Erbusco in Franciacorta, a region famous for its sparkling wines. At Ristorante Gualtiero Marchesi, Colombi had the opportunity to work with Nicola Zanini, recognized as the “best sommelier in Italy” in 2002.

In late 2003, Colombi relocated to England to learn English and work for Angela Hartnett at the Connaught Hotel in Mayfair, London. In 2005 he was promoted to Assistant Head Sommelier, and in 2007 he left England for a Head Sommelier position at Cielo by Angela Hartnett in Boca Raton, Florida.

AB: Where have you worked previously?
RC: I started in Italy with Gualtiero Marchesi. Then he sent me to London to work for Angela Hartnett. While there I staged at Gordon Ramsay and Petrus in London.

AB: What courses have you taken? Certifications?
RC: I did the Wine and Spirits Educational Trust program in London, and I started the Master program in 2006. I’ve completed the first level – I haven’t done the advanced.

AB: What is your philosophy on wine and food?
RC: For me, food is the best to taste with is water. It is natural. Wine changes the taste of food – but it can change it in a better way. That is where I come in. My job is to teach the customer how to drink and enjoy wine in a better way. I want to give the customer something they will remember.

AB: What is your favorite wine?
RC: Barolo - I grew up in Piedmont. I also love Nebbiolo. It's robust and with character.

AB: What is your favorite wine resource book and author?
RC: I prefer a wine atlas - it teaches me not only about the wine, but the terroir and the type of soil. It gives more of an idea of what the wine can be.

AB: Tell me about a perfect wine and food match that you discovered.
RC: Scallops and Chardonnay. The scallop is a delicate kind of fish, with lots of character. Chardonnay has a creamy and buttery taste.

AB: What wines do you favor for your cellar at home?
RC: Bordeaux - old vintages. I have a lot of respect for French wines. In 1855 they started in Bordeaux with classifications.

AB: Is there someone you’d consider a mentor?
RC: Gualtiero Marchesi. I learned everything from him – about life and how to work in a proper way.

AB: What languages do you speak?
RC: Italian, English and French

AB: What are your ultimate career goals?  Where do you see yourself in 5 years? 10 years?
RC: Hopefully in a winery making wine!

AB: To what extent do you control the wine list? How much existed before you arrived?
RC: I control 99%. It was a new restaurant when I came, so I built it all. I do all the wine buying as well.

AB: How do you compile the wine list?
RC: We are an Italian restaurant, so mainly Italian, but we also have other European and new world wines.

AB: What regions are you interested in at the moment?
RC: Wines from the United States, because I am new here and want to learn about American wines.

AB: How does Miami compare to London?
RC: The difference between London and here is that in London they drink a lot more.

AB: Which person in history would you most like to share a bottle of wine?
RC: My father.

AB: If you weren’t a sommelier, what would you be doing?
RC: I would be a farmer.