April 26, 2010
Posted: 1429 GMT
The economic downturn has hurt many sectors of business around the world, but the restaurant industry may have been one of the hardest hit.
Alain Ducasse is seen at his Tokyo restaurant.
Restaurants around the world have been suffering because of the recession and in January of this year a record 100 restaurants went out of business in the UK alone, according to the “Independent” newspaper.
Many of the world’s top chefs, including Gordon Ramsay, have had to close restaurants with Ramsay closing two of his London locations. Ramsay is also reported to have a overdraft of almost $15 million.
World famous French chef, Alain Ducasse has also had to put plans for a global expansion on hold because of the downturn.
In September 2009, celebrity chef Tom Aitkens put his flagship restaurant in London’s west end into administration. He re-opened the restaurant soon after, enabling him to clear more than $5 million in debt.
But it’s not just the upscale restaurateurs that are feeling the pinch of the global financial crisis.
Many mid-range and inexpensive eateries are being affected, with many of them closing over the past 18 months.
We want to know what you think.
How has the economic downturn affected your eating habits? Are you eating out less? Are restaurants with $200 a head averages just too much?