
He is closing some of his restaurants at slower times of the week and is using less expensive cuts of meat, according to an article in the Wall St. Journal. Costly out-of-season ingredients no longer have a place on his menus.
Reasons for the decline are several. Corporate expense accounts have been slashed, and diners are ordering fewer high priced bottles of wine, where the fattest profits are.

It's a good bet that the tough Scot can withstand the heat. Yes, he sold his silver 430 Scuderia Ferrari. But he still earns an estimated $16 million per year for his TV shows ("Hell's Kitchen" and "Kitchen Nightmares"), as well as from publishing and endorsements.
That's a lot of bread, even in a stale economy.
You'll find the full text of the Journal article here.
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