Meatless Farm has reportedly hired restructuring and insolvency consultants Kroll and is seeking investment to secure its future.

The British alternative meat company is said to be just weeks away from running out of cash and is reportedly planning to file a notice of intention to appoint administrators, following an investor’s recent withdrawal of its cash commitment. The news follows a recent NIQ report which suggests that consumers are scaling back on more costly plant-based alternatives amid current economic pressures.

Leeds-headquartered Meatless Farm was founded in 2016 and has previously raised around $40 million in funding, including $31 million to support expansion in Europe, the US and Asia. Recent product launches from the company include a plant-based No-duja Ravioli, Chipolata sausages and a Chickenless Roasting Joint.

The company’s products are currently stocked in the big four UK supermarkets, but with limited availability.

While Meatless Farm declined when approached for comment by The Plant Base, the company did not deny that the reports were true.

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