Plant-based meat alternatives brand Meatless Farm has made its workforce redundant and is expected to enter administration.
Headquartered in Leeds, UK, and founded in 2016 by Morten Toft Bech, Meatless Farm reported having hired restructuring and insolvency consultants Kroll at the end of May with hopes to secure an immediate investment solution to save the brand’s future.
While Meatless Farm has not yet published an official statement confirming reports that its bid to avoid administration was unsuccessful, several updates from the company’s ex-employees on LinkedIn appear to verify the news of the company’s struggles.
Interim finance executive John Loughrey wrote: “Sadly things have not worked out for The Meatless Farm so I am now looking for my next assignment, as will numerous other colleagues. I have had a great time in a fantastic company, and have had the honour and pleasure of working with some amazing people. It is a shame the company has not made it through this difficult period and I wish all my former colleagues the best of luck for the future.”
Meanwhile, commercial director Tim Offer posted an update on his LinkedIn page stating that the business “has unfortunately made all the teams redundant”.
The company’s website is no longer operational and its products are no longer available in supermarkets that previously stocked the brand.
Meatless Farm had recently unveiled several new offerings including a ‘No-duja Ravioli,’ but the company was said to be fast running out of cash following withdrawal from an investor and a contract in demand for plant-based meat alternatives as consumers look to cut costs.
The Plant Base has reached out to Meatless Farm for comment.
Update: We have now received confirmation that Geoff Bouchier and Jimmy Saunders, both of Kroll, were appointed as joint administrators of Meatless Farm on 13 June 2023. In a statement to The Plant Base, Kroll confirmed it had been hired as advisor at the end of May and has since been “exploring all options for the business and its assets.”
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