Ryan Giggs' restaurant shut down 'out of the blue' due to soaring £563k debts as Man Utd legend forced to explore other ventures

The Manchester United legend opened the restaurant in Greater Manchester, along with old friends Kelvin Gregory and Bernie Taylor, in 2014. But after running for nearly 11 years, George’s was forced to close down due to their huge six-figure debts. The debts include £129,357 owed to traders, £75,616 in taxes and £44,095 in bank loans and overdrafts. RKB Ventures Ltd, set up by Giggs and his partners, had to be liquated following their massive dues.

Right before shutting shop, the management sent out a text message to their employees, which read (via The Sun): "Bosses regret to announce that with a heavy heart, we have no alternative but to close George’s effective immediately. This is due to the obvious reduction   in trade and business against   the huge increases in costs of operating the business and the ongoing cost of ­living crisis."

Reacting to the sudden decision to close down the restaurant, a staff member said: "It came totally out of the blue. We were all supposed to be working today and then we got the text messages through, we are all stunned."

While the restaurant business has now closed down, the former Red Devils star is still involved in property development and the hospitality and fashion industry.