Tom Kerridge has revealed that he and his wife Beth Cullen-Kerridge lost £1.5 million on an events business in the wake of the Covid pandemic. Despite the significant financial blow, the Michelin-starred chef, 53, said the couple now feel "financially stable".
The Great British Menu judge and his wife, sculptor and artist Beth Cullen-Kerridge, run five restaurants together, alongside a television production company, a consultancy company and a media company.
Events venture failure
Kerridge confessed "we took a massive hit" on the events venture, which resulted in him and Beth losing over a million pounds. He said: "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."
He added: "It was post-Covid, so there was nothing we could do. The business was working quite well until then."
Silver lining with M&S
Despite the crushing loss, Kerridge acknowledged that the venture led to connections with M&S. He now has a Gastropub food range and a cookware collection available in M&S stores.
He told The i Paper: "But without that business, I wouldn't have made any connections with M&S, who sell our pies."
Pressure to keep ventures afloat
The chef, who confirmed he is now "financially stable", still experiences "huge pressure" to ensure none of his other ventures fail, primarily for his friends and work colleagues.
He said: "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."
Kerridge recently reflected on his "accidental" venture into the TV industry, which he discussed with his wife before taking the plunge. 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."
He added: "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***.'"
