Gordon Ramsay Restaurants passes £100m as Bishopsgate leads
The chef's 34 UK restaurants took £100.7m in 2025 and posted record earnings, but the British business still made an operating loss of £5.8m.
Gordon Ramsay Restaurants, the chef's UK business, took £100.7m in revenue in the year to 28 December 2025, up 3% from £97.8m, according to its latest accounts reported by City AM, PA Media and Restaurant Online on 2 October.
Earnings before interest, tax, depreciation and amortisation rose 4% to £8.5m, from £8.2m, which the company calls a record. The operating line tells a less tidy story: the 34 UK restaurants still lost £5.8m at operating level, although that is narrower than the £7.3m loss of the year before, City AM reported.
The worldwide estate, Gordon Ramsay Restaurants Global, was formed in February 2025 when Ramsay merged his UK and US operations. It booked £151.8m in revenue across 102 sites, with EBITDA up 12% to just over £14m. Ramsay and the London private equity firm Lion Capital each own half of it.
Record earnings at the top, an operating loss at the bottom: the tower pays, the estate still costs.
22 Bishopsgate carries Gordon Ramsay Restaurants
Chief executive Andy Wenlock called it an "incredible year" and named 22 Bishopsgate, the City of London tower that now holds five of the group's venues, the "star performer". Lucky Cat opened there in February 2025; the building also houses the fine dining Restaurant Gordon Ramsay HIGH and a cooking academy. A Bread Street Kitchen & Bar followed in May 2026 as the group's 100th restaurant. According to PA, sales at the building so far this year are more than double those of the same period in 2025.
The company also credits the Netflix documentary Being Gordon Ramsay, released in February, with lifting bookings, Lucky Cat's in particular. The tower sits a short walk from several of the tables on our list of the best restaurants in London, though none of them depends on a television series.
Record earnings, still no operating profit
Record EBITDA next to an operating loss is a familiar combination in London restaurant accounts this autumn, as the latest figures from Farmer J showed. EBITDA leaves out depreciation, which weighs on Gordon Ramsay Restaurants after fitting out large sites such as Bishopsgate.
The group holds nine Michelin stars, three of them at Restaurant Gordon Ramsay in Chelsea. Its next growth is planned less through sites it builds itself than through franchise and licensing partners, PA reported, a model that brings fees without the fit-out bills.
