[Saba Sports News] According to British media reports, a restaurant invested by Manchester United legend Ryan Giggs has gone bankrupt, leaving him with a loss of £100,000. Latest documents show that the restaurant owned by the former Manchester United star failed to repay debts totalling £563,600. The restaurant, named George’s Dining Room and Bar, went bankrupt last year and has so far been unable to settle this huge debt. The business is severely short of cash and has even failed to pay £22,000 owed to the liquidator. After injecting personal funds into the business, Giggs himself suffered a loss of £99,925. In addition, the restaurant also owes £75,616 in taxes, £44,095 in bank loans and overdrafts, and £28,302 in unpaid wages to employees. The liquidator stated: “Creditors will not receive any dividend distribution. The realisation of assets achieved so far is not even sufficient to cover the fees payable to the liquidator.”
The editor believes that amid the ongoing cost-of-living crisis, the restaurant faced increasingly severe operational pressures, which ultimately forced it to close. Giggs and his partners had hoped to succeed in the catering market in Worsley, but the venture regrettably ended in bankruptcy, reflecting the severe challenges the current economic environment poses to the operation of small and medium-sized enterprises.