Ambition overtook me: Ramsay PROFITS at Gordon Ramsays London restaurant empire collapsed by almost 90 per cent in his most turbulent year since starting in business. The chefs latest accounts reveal just how close it came to running out of money last year because of over-hasty expansion, forcing him to plough millions of his own cash into his company. The documents, filed at Companies House today, show profits at his London restau- rants fell 87 per cent from 3.05m to 383,325, and turnover dropped 14 per cent from 41.59m to 35.57m. Four of his London restaurants closed between December 2007 and this January -- the Savoy Grill, the Connaught, Petrus and La Noisette. Net debt ballooned from 4.01m to 9.48m, on which the interest payments London Lite Thursday, 2 July 2009 11 latest accounts reveal the extent of chefs meltdown by mark blunden Tight: Beckhambeckham under attack: Page 35 the genetic key to schizophrenia TINY genetic variations may hold the key to schizophrenia, scientists claim. A third of all inherited cases of the condition may be caused by a combination of mutations which lead to the mental illness. The study, by scientists from universities including Harvard, was published in Nature journal and is the biggest yet into the genetics of the illness. record 78m for red nose day COMIC RelIef raised a record 78.2m from this years Red Nose Day campaign, it emerged today. fundraising activities included celebrities climbing Mount Kilimanjaro and 11m from Red Nose sales. T-shirts designed by Stella McCartney raised more than 3.3m, and millions more came from wacky sponsored schemes. Primary marks birth of flying THe worlds first uncontrolled powered flight is being re-enacted at a Kent school. Sir Hiram Maxim was the first person to get a manned, heavier-than-air machine off the ground but metal rails stopped it flying higher than 2ft on 31 July 1894. A microlight plane will fly from the same spot as Maxim at Maypole Primary School, Dartford, next week. 90% slump in profits for ramsay DAVID BECKHAM has been branded a cheapskate by one of his US team-mates. Fellow LA Galaxy player Landon Donovan allegedly accused the England star of having alligator arms when it came to picking up a restaurant bill. Beckham reportedly helped to organise a dinner with 10 other players, but only paid his share at the end. US sports writer Grant Wahl claimed Donovan and the other players couldnt believe that the multi-millionaire would be so tight. But on another occasion, Beckham, 34, did pick up the tab for his team-mates, covering the extra costs after their 30-a-head meal allowance. Wahl included the incidents in his new book, The Beckham Experiment. Beckscalledcheapskatefornotfootingplayersbill doubled from 279,485 to 545,563. An unpaid backlog of VAT, corpo- ration tax and PAYE reached almost 8m and is only being repaid this month. Ramsay and his father-in-law and business partner Chris Hutcheson had to put 5m into the business. The business breached covenants on loans with Royal Bank of Scotland because it was not generating enough revenue. The crisis was the result of an expansion programme in 2007 and last year when Ramsay opened 10 restaurants in 10 months, many overseas. He has admitted that ambition overtook me. The chef avoided going into administration as he is earning up to 10m a year from his TV programmes, live shows and books, which he was able to redi- rect into the restaurant company, Gordon Ramsay Holdings (GRH). New banking terms covering the next two years have been agreed with RBS this week. In store and online at houseoffraser.co.uk/sale SALE 70%OFF UP TO NOW H index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html