‘Nobody Expected This’: Beloved Vegan Meat Brand Prepares For Bankruptcy

European vegan food brand Meatless Farm is facing bankruptcy, having laid off a significant portion of its workforce and stopped trading. Despite its growth in sales, the company struggled to turn a profit, leading to its insolvency. Investors deciding not to further invest in the company left Meatless Farm unable to continue its operations, resulting in layoffs and closure.

The plant-based meat market is facing increasing competition and a reported slump in sales, with Meatless Farm being one of the casualties. Other major companies have also experienced challenges in the plant-based sector, with some pulling products from the market due to poor sales. Factors such as consumer willingness to pay a premium for vegan products and inflation have contributed to the difficulties faced by Meatless Farm and other plant-based companies in the market.