Michelin-starred TV chef Tom Kerridge, 53, has admitted "we took a massive hit" on a business that led to him losing over a million pounds.
The Great British Menu judge was quizzed on the biggest amount of money he's lost on a business, prompting him to open up about the events company that started to fail in the aftermath of the Covid pandemic. The hospitality industry was struggling at the time, as social distancing rules had prevented social gatherings.
Loss of £1.5m on events company
He recalled: "Loads, my God, loads. We lost £1.5m on a business. It was an events company and we sold it, but we took a massive hit.
"It was post-Covid, so there was nothing we could do. The business was working quite well until then."
Despite the devastating loss, Tom has acknowledged that he wouldn't have had the opportunity to work with M&S without the business. Tom now has a Gastropub food range and a cookware collection available to buy in M&S stores.
M&S connections and financial stability
He added to The i Paper: "But without that business, I wouldn’t have made any connections with M&S, who sell our pies."
Tom went on to share that he and his wife, sculptor and artist Beth Cullen-Kerridge, now feel "financially stable", owning five restaurants, a television production company, a consultancy company and a media company.
However, the chef still feels a "huge pressure" to make sure that none of his other businesses fail, mostly for his over 200 employees.
Pressure over employees and TV success
The star revealed: "If it all went wrong and we had to sell everything – then we’d be all right.
"But none of it is paid off [in full] and I have the responsibility of over 200 people who are work colleagues and friends, so there is a huge pressure in making sure that business works and it operates."
Outside of his restaurants, Tom has found success on TV, which he describes as a "happy accident". After his gastropub, The Hand & Flowers, earned its first Michelin star, he was invited to appear on BBC's The Great British Menu, but had to get some advice from his wife before accepting the offer.
Speaking on the Full Disclosure with James O'Brien podcast, he said: "Telly was an accident. A happy accident. Great British Menu came and asked if we would compete.
"I didn't realise then but it's a cookery competition and it's so significant, it's amazing. I spoke to Beth about it and said, 'what do you think we should do?' It advertises your business, it's amazing.
"The worst that can happen is you come across really bad. She said 'don't be a d***.'"
