Giggs closes restaurant due to bankruptcy

George's Dining Room and Bar, owned by former footballer Ryan Giggs, has abruptly closed after declaring bankruptcy. According to its latest financial report, the business has debts of up to £563,600, including £129,357 owed to suppliers, £75,616 in tax and £44,095 in bank loans.

The former Manchester United midfielder opened George's in Worsley, Greater Manchester, in 2014 with his school friends Kelvin Gregory and Bernie Taylor. However, last month the restaurant unexpectedly announced it was closing, citing "unforeseen circumstances".

On March 7, the company RKB Ventures Ltd, established by Giggs and his associates to manage the restaurant, was officially liquidated.

According to The Sun , staff received a message from management that read: "It is with a heavy heart that we regret to announce that we have no choice but to close George's with immediate effect."

The restaurant had to close due to escalating costs and falling customer numbers.

The announcement also explained that the decision was due to a decline in customers while operating costs continued to rise due to the economic crisis and the rising cost of living. One employee shared: "Everything was so sudden. We thought we were going to work as usual, until we received the message. Everyone was shocked."

George's Restaurant attracted attention when it opened with the presence of many former MaU players such as Bryan Robson, Nicky Butt and Gary Neville. At that time, Giggs excitedly shared about the project: "We have known each other for 30 years and always wanted to do something together. All three of us are local, grew up in this area, so we wanted to bring something special to Worsley."

In addition to football, Giggs is also involved in real estate, restaurants, hotels and fashion . Late last year, his girlfriend Zara Charles gave birth to their first daughter, Cora.

The restaurant's closure marks a setback in Giggs' business career. Despite his success on the football field, he has encountered many difficulties when moving into the culinary field. It is unclear whether Giggs intends to continue pursuing the restaurant - hotel industry or will focus on other projects in the future.

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