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Deflation
Gordon Ramsay's Brexit nightmare: chef hires team to halt rising costs
The celebrity chef Gordon Ramsay has drafted in a specialist team of Brexit negotiators to tackle rising food costs at his restaurant empire.
The Michelin-starred restaurateur, who runs some of Britain’s top dining destinations including London’s Savoy Grill and Petrus, is concerned about the fastest rise in food prices in three years.
Accounts filed at Companies House for the chef’s subsidiary company, Gordon Ramsay Holdings, sets out urgent action taken by the chain to cap food costs. It has recruited a buying team to negotiate cheaper prices across the group as the cost of imported ingredients spirals because of weak sterling.
It also blamed concerns over recruiting staff on Brexit and is worried about uncertainty over the economy.
In the accounts, for the 12 months to the end of August 2016, the firm warns: “As a consequence of the referendum in the summer of 2016 there is a great deal of uncertainty about the future direction of the economy.
“This will have a number of potential implications including cost pressures due to the inflationary impact of sterling against the euro, recruitment and the general economic climate.
“In part to mitigate the inflationary impact a procurement team has been recruited to manage the supply chain.”
https://www.theguardian.com/business...michelin-pound
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