Celebrity chef Gino D’Acampo is reportedly closing down one of his business ventures in London, as his My Pasta Bar chain faces debts nearing £5 million.
According to The Mirror, Gino has called in liquidators for the business, which he launched in 2012, with reports showing that he owes a total of £4,939,332 to 49 creditors.
The pasta bar chain, which operates three branches across London, is also said to owe £113,975 to HMRC and £37,887 in outstanding staff wages
Company filings seen on Companies House confirm that the 45-year-old has placed the business into liquidation.
Heart.co.uk has contacted a representative for Gino for an official comment.
All three My Pasta Bar locations are in the capital – the first opening on Fleet Street in 2013, followed by branches in Leadenhall Market and Bishopsgate.
At the time of launch, Gino explained that the idea was inspired by his personal experience with the fresh food markets in Naples, Italy. The menu featured items such as breakfast rotolini pastries, antipasti, salads, fresh breads, and traditional Italian desserts.
Despite this setback, Gino’s other restaurant chain, Gino D’Acampo, remains unaffected. That brand operates venues in cities including Newcastle, Birmingham, Manchester, Harrogate, Liverpool, and Hull
The news follows recent remarks from the father-of-three, who told The Daily Mail that he prioritizes making memories over accumulating wealth.
“The danger is that by running everywhere, you’re missing out on the many beautiful things the world has to offer,” he said. “My suggestion is to stop running, stop working, and enjoy what you’ve built up.”
He went on to explain that he now spends six months each year managing his restaurants and the other six at his vineyard in Sardinia. “I don’t do one day more of work than I do of holiday,” he added.
“Otherwise, I see myself as a failure as a father and husband because I wouldn’t be giving enough time to the people around me. I’d rather bank memories than money.”
In response to the news, his wife Jessica Stellina Morrison spoke out: “Even if my husband goes bankrupt, I will still stand by his side.”
What is liquidation?
Liquidation is the process of closing down a company and distributing its assets to repay creditors. Once a business enters liquidation, its assets are sold off, debts are settled, and the company is officially dissolved.
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